Item 1.01 Entry Into a Material Definitive Agreement.




On March 15, 2021, Westell, Inc. (the "Borrower" or the "Company"), a wholly
owned subsidiary of Westell Technologies, Inc. executed a loan agreement with
St. Charles Bank & Trust Company, N.A., as lender for the amount of $1,637,522
(the "PPP2 Loan"), pursuant to the second round draw loan funding from the
Paycheck Protection Program (the "PPP") pursuant to the Coronavirus Aid, Relief,
and Economic Security Act (the "CARES Act") and the Economic Aid to Hard-Hit
Small Businesses, Nonprofits and Venues Act and administered by the U.S. Small
Business Administration (the "SBA").

The PPP2 Loan is evidenced by a promissory note (the "Note"), between the
Company and St. Charles Bank & Trust Company, N.A. The Note has a five-year
term, bears interest at a rate of 1.00% per annum, and may be prepaid at any
time without incurring any prepayment charges. Monthly principal and interest
payments, less the amount of any potential forgiveness (discussed below), will
commence on one month after the expiration of the Deferment Period. The Borrower
did not provide any collateral or guarantees for the PPP2 Loan, nor did Borrower
pay any facility charge to obtain the PPP2 Loan. The Note provides for customary
events of default, including, among others, those relating to failure to make
payment, bankruptcy, breaches of representations and material adverse effects.

All or a portion of the PPP2 Loan, including accrued interest, may be forgiven
by the SBA and lender upon application, along with submission of the
documentation of expenditures in accordance with the SBA requirements by the
Company. Loan forgiveness is available for the sum of eligible payroll costs,
covered rent payments, covered utilities, covered supplier costs, and covered
worker protection expenditures during the applicable covered period. In the
event the PPP2 Loan, or any portion thereof, is forgiven pursuant to the PPP,
the amount forgiven is applied to outstanding principal. The Company intends to
use the proceeds of the PPP2 Loan for eligible purposes and to pursue
forgiveness, although the Company may take action that could cause some or all
of the PPP2 Loan to become ineligible for forgiveness. No assurance is provided
that forgiveness for all or any portion of the PPP2 Loan will be obtained.

A copy of the Promissory Note is filed as Exhibit 10.1 to this report and incorporated herein by reference.



On Tuesday, March 16, 2021, Westell, Inc. received notice of forgiveness for the
full amount of the original loan (the "PPP Loan") for $1,637,522, plus all
accrued interest that it had obtained under the SBA Paycheck Protection Program
of the CARES Act from JPMorgan Chase Bank, N.A (the "Lender"). The terms of the
PPP Loan are described in the Form 8-K filed on April 20, 2020. The Borrower
previously applied to the Lender for forgiveness of the PPP Loan.


Item 2.03        Creation of a Direct Financial Obligation or an Obligation Under of
                 Off-Balance Sheet Arrangement of a Registrant.

The disclosure in Item 1.01 of this report is incorporated into this Item 2.03 by reference.

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Item 9.01 Financial Statements and Exhibits.




(d) Exhibits

Exhibit Number                  Description
10.1                              Promissory Note dated March 15, 2021, by and among Westell, Inc. and
                                    St. Charles Bank & Trust Company, N.A

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