PPP Loan information for Magnetech corporation

$44,945

Magnetech corporation was initially approved for PPP Loan of amount $44,945, the current approved amount is $44,945. The loan was approved on 05/01/2020 by The JPMorgan Chase Bank, National Association reported 3 jobs and $44,945 was used to fund payroll.

Magnetech corporation is Existing or more than 2 years old

PPP Loan Search / MI / NOVI / Magnetech corporation

MAGNETECH CORPORATION

Date Approved

05/01/2020

SBA Office Code

0515

Processing Method

PPP

Borrower Name

MAGNETECH CORPORATION

Borrower Address

22809 Heslip Drive

Borrower City

NOVI

Borrower State

MI

Borrower Zip

48375

Loan Status Date

05/21/2021

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

44945.00

Current Approval Amount

44945.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

48270

Servicing Lender Name

JPMorgan Chase Bank, National Association

Servicing Lender Address

1111 Polaris Pkwy

Servicing Lender City

COLUMBUS

Servicing Lender State

OH

Servicing Lender Zip

43240-2031

Rural Urban Indicator

U

Hubzone Indicator

N

HLMI Indicator

N

Business Age Description

Existing or more than 2 years old

Project City

NOVI

Project County Name

OAKLAND

Project State

MI

Project Zip

48375-0200

CD

MI-06

Jobs Reported

3

NAICS Code

335314

Race

Asian

Ethnicity

Not Hispanic or Latino

Utilities Proceed

426.00

Payroll Proceed

38600.00

Mortgage Interest Proceed

0.00

Rent Proceed

3849.00

Refinance EIDL Proceed

0.00

Health Care Proceed

2070.00

Debt Interest Proceed

0

Business Type

Subchapter S Corporation

Originating Lender Location Id

48270

Originating Lender

JPMorgan Chase Bank, National Association

Originating Lender City

COLUMBUS

Originating Lender State

OH

Gender

Female Owned

Veteran

Non-Veteran

Non Profit

Forgiveness Amount

45353.65

Forgiveness Date

04/01/2021

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