PPP Loan information for Magmotor technologies inc.

$137,100

Magmotor technologies inc. was initially approved for PPP Loan of amount $137,100, the current approved amount is $137,100. The loan was approved on 04/03/2020 by The Cornerstone Bank reported 10 jobs and $137,100 was used to fund payroll.

Magmotor technologies inc. is Existing or more than 2 years old

PPP Loan Search / MA / WORCESTER / Magmotor technologies inc.

MAGMOTOR TECHNOLOGIES INC.

Date Approved

04/03/2020

SBA Office Code

0101

Processing Method

PPP

Borrower Name

MAGMOTOR TECHNOLOGIES INC.

Borrower Address

10 COPPAGE DR

Borrower City

WORCESTER

Borrower State

MA

Borrower Zip

01603-1252

Loan Status Date

08/20/2021

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

137100.00

Current Approval Amount

137100.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

33352

Servicing Lender Name

Cornerstone Bank

Servicing Lender Address

230 Park Ave

Servicing Lender City

WORCESTER

Servicing Lender State

MA

Servicing Lender Zip

01609-1918

Rural Urban Indicator

U

Hubzone Indicator

N

HLMI Indicator

N

Business Age Description

Existing or more than 2 years old

Project City

WORCESTER

Project County Name

WORCESTER

Project State

MA

Project Zip

01603-1252

CD

MA-02

Jobs Reported

10

NAICS Code

336310

Race

Asian

Ethnicity

Not Hispanic or Latino

Utilities Proceed

0.00

Payroll Proceed

137100.00

Mortgage Interest Proceed

0.00

Rent Proceed

0.00

Refinance EIDL Proceed

0.00

Health Care Proceed

0.00

Debt Interest Proceed

0

Business Type

Corporation

Originating Lender Location Id

33352

Originating Lender

Cornerstone Bank

Originating Lender City

WORCESTER

Originating Lender State

MA

Gender

Male Owned

Veteran

Non-Veteran

Non Profit

Forgiveness Amount

137873.09

Forgiveness Date

11/12/2020

;