PPP Loan information for Magna-power electronics, inc.

$1,064,670

Magna-power electronics, inc. was initially approved for PPP Loan of amount $1,064,670, the current approved amount is $1,064,670. The loan was approved on 04/15/2020 by The Fulton Bank, National Association reported 71 jobs and $1,064,670 was used to fund payroll.

Magna-power electronics, inc. is Existing or more than 2 years old

PPP Loan Search / NJ / Flemington / Magna-power electronics, inc.

MAGNA-POWER ELECTRONICS, INC.

Date Approved

04/15/2020

SBA Office Code

0299

Processing Method

PPP

Borrower Name

MAGNA-POWER ELECTRONICS, INC.

Borrower Address

39 Royal Rd

Borrower City

Flemington

Borrower State

NJ

Borrower Zip

08822

Loan Status Date

02/20/2021

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

1064670.00

Current Approval Amount

1064670.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

60701

Servicing Lender Name

Fulton Bank, National Association

Servicing Lender Address

One Penn Sq

Servicing Lender City

LANCASTER

Servicing Lender State

PA

Servicing Lender Zip

17602-2853

Rural Urban Indicator

R

Hubzone Indicator

N

HLMI Indicator

N

Business Age Description

Existing or more than 2 years old

Project City

Flemington

Project County Name

HUNTERDON

Project State

NJ

Project Zip

08822-0001

CD

NJ-07

Jobs Reported

71

NAICS Code

443142

Race

Unanswered

Ethnicity

Unknown/NotStated

Utilities Proceed

133083.75

Payroll Proceed

798502.50

Mortgage Interest Proceed

133083.75

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

60701

Originating Lender

Fulton Bank, National Association

Originating Lender City

LANCASTER

Originating Lender State

PA

Gender

Male Owned

Veteran

Unanswered

Non Profit

Forgiveness Amount

1072536.73

Forgiveness Date

01/19/2021

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