Sigmatron international, inc. reports full forgiveness of $6.3 million loan under sba payroll protection program

Elk grove village, ill., july 13, 2021 (globe newswire) -- sigmatron international, inc. (nasdaq: sgma), an electronic manufacturing services company, today announced that it received full forgiveness of its small business administration (“sba”) paycheck protection program (“ppp”) loan in the amount of approximately $6.3 million, which it had received pursuant to the coronavirus aid, relief and economic security act (the “cares act”) on april 23, 2020 and which was reported in a press release the same day. the company was notified of the forgiveness on friday, july 9, 2021 and it covers all principal and accrued interest. the accounting for the forgiveness will be reflected in the company's first quarter financial statements for fiscal year 2022.
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