Business Wire | Aug 19, 2021 09:24AM EDT

CCOM Group, Inc. Announces PPP Loan Forgiveness

Aug. 19, 2021

HAWTHORNE, N.J.--(BUSINESS WIRE)--Aug. 19, 2021--CCOM Group, Inc. ("CCOM") (OTC Pink: "CCOM," "CCOMP"), announces its PPP loans have been forgiven.

In April 2020, the Company, through its subsidiaries, Universal Supply Group, Inc., The RAL Supply Group, Inc. and S&A Supply, Inc, received funding from the Small Business Administration's ("SBA") Paycheck Protection Program (the "PPP Loan") in the amounts of $1,415,256, $650,000 and $220,000, respectively, or $2,285,256 in total. The Company has been notified by KeyBank National Association that it has received 100% loan forgiveness from the SBA. The forgiveness will be recognized as a gain on debt extinguishment.

About CCOM Group, Inc.

CCOM Group, Inc. ("CCOM") distributes heating, ventilating and air conditioning equipment (HVAC), parts and accessories, whole-house generators, climate control systems, and plumbing and electrical fixtures and supplies, primarily in New Jersey, New York, Massachusetts and portions of eastern Pennsylvania, Connecticut and Vermont through its subsidiaries: Universal Supply Group, Inc., www.usginc.com, The RAL Supply Group, Inc., www.ralsupply.com, and S&A Supply, Inc., www.sasupplyinc.com. CCOM is headquartered in New Jersey, and, with its affiliates, operates out of 15 locations in its geographic trading area. For more information on CCOM's operations, products and/or services, please visit www.ccom-group.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210819005495/en/

CONTACT: Peter D. Gasiewicz, Chief Executive Officer William Salek, Chief Financial Officer (973) 427-8224