other material
confidence high
sentiment positive
materiality 0.60
Nortech Systems receives full forgiveness of $6.1M PPP loan from SBA
NORTECH SYSTEMS INC
- Received notification Nov 29, 2021 that $6.1M PPP loan and accrued interest fully forgiven by SBA; forgiveness payment date Nov 3, 2021.
- Financial impact to be reflected in Q4 2021 ending Dec 31, 2021.
- Loan originally obtained in April 2020 under CARES Act.