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Blonder Tongue Announces Forgiveness of CARES Act PPP Loan


Blonder Tongue Announces Forgiveness of CARES Act PPP Loan
ACCESSWIRE
OLD BRIDGE, NJ / ACCESSWIRE / July 6, 2021 /Blonder Tongue Laboratories, Inc. (NYSE American:
BDR) announced today that it has received forgiveness of $1,768,762 of loan proceeds (
PPP Loan ) previously received under the Paycheck Protection Program (
PPP ).
As previously disclosed, on April 10, 2020, the Company received a PPP Loan of $1,768,762 under the federal PPP Program. The PPP was established as part of the Coronavirus Aid, Relief and Economic Security Act (
CARES Act ) and is administered by the U.S. Small Business Administration (
SBA ). The PPP Loan was evidenced by a promissory note, dated as of April 5, 2020 ( ....

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