PPP Loan information for Magnetic technology, inc.

$197,700

Magnetic technology, inc. was initially approved for PPP Loan of amount $197,700, the current approved amount is $197,700. The loan was approved on 04/29/2020 by The Prosperity Bank reported 26 jobs and $197,700 was used to fund payroll.

Magnetic technology, inc. is Existing or more than 2 years old

PPP Loan Search / TX / MCKINNEY / Magnetic technology, inc.

MAGNETIC TECHNOLOGY, INC.

Date Approved

04/29/2020

SBA Office Code

0610

Processing Method

PPP

Borrower Name

MAGNETIC TECHNOLOGY, INC.

Borrower Address

1627 BRAY CENTRAL DR

Borrower City

MCKINNEY

Borrower State

TX

Borrower Zip

75069-8206

Loan Status Date

06/09/2021

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

197700.00

Current Approval Amount

197700.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

69819

Servicing Lender Name

Prosperity Bank

Servicing Lender Address

1301 N Mechanic

Servicing Lender City

El Campo

Servicing Lender State

TX

Servicing Lender Zip

77437

Rural Urban Indicator

U

Hubzone Indicator

Y

HLMI Indicator

Y

Business Age Description

Existing or more than 2 years old

Project City

MCKINNEY

Project County Name

COLLIN

Project State

TX

Project Zip

75069-8206

CD

TX-03

Jobs Reported

26

NAICS Code

334419

Race

White

Ethnicity

Unknown/NotStated

Utilities Proceed

0.00

Payroll Proceed

197700.00

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

69819

Originating Lender

Prosperity Bank

Originating Lender City

El Campo

Originating Lender State

TX

Gender

Male Owned

Veteran

Non-Veteran

Non Profit

Forgiveness Amount

199747.41

Forgiveness Date

05/27/2021

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