The company obtained the loan for $3,150,832 from JPMorgan Chase Bank in April and had two years from seven months of the date of the grant to repay it. However, the Small Business Administration issued guidance on April 23 and the on May 5 about the qualification of public companies to receive such loans and provided extended a safe harbor date by which loans could be returned without penalty to May 14. The company returned the full amount of its loan on May 18.
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SWK RETURNED PPP LOAN Featured
SWK Technologies, the reseller owned by SilverSun Technologies, obtained and returned a loan under the Paycheck Protection Program. SilverSun disclosed the facts in its recently filed Form 10Q for the second quarter ended June 30.
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