PPP Loan information for Magnolia steel co inc

$1,027,600

Magnolia steel co inc was initially approved for PPP Loan of amount $1,027,600, the current approved amount is $1,027,600. The loan was approved on 04/06/2020 by The Community Bank of Mississippi reported 92 jobs and $1,027,600 was used to fund payroll.

Magnolia steel co inc is Existing or more than 2 years old

PPP Loan Search / MS / MERIDIAN / Magnolia steel co inc

MAGNOLIA STEEL CO INC

Date Approved

04/06/2020

SBA Office Code

0470

Processing Method

PPP

Borrower Name

MAGNOLIA STEEL CO INC

Borrower Address

17 17TH AVE

Borrower City

MERIDIAN

Borrower State

MS

Borrower Zip

39301-5401

Loan Status Date

02/04/2021

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

1027600.00

Current Approval Amount

1027600.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

39217

Servicing Lender Name

Community Bank of Mississippi

Servicing Lender Address

323 E Third St

Servicing Lender City

Forest

Servicing Lender State

MS

Servicing Lender Zip

39074-0059

Rural Urban Indicator

R

Hubzone Indicator

N

HLMI Indicator

Y

Business Age Description

Existing or more than 2 years old

Project City

MERIDIAN

Project County Name

LAUDERDALE

Project State

MS

Project Zip

39301-5401

CD

MS-03

Jobs Reported

92

NAICS Code

332312

Race

White

Ethnicity

Not Hispanic or Latino

Utilities Proceed

144500.00

Payroll Proceed

745200.00

Mortgage Interest Proceed

0.00

Rent Proceed

0.00

Refinance EIDL Proceed

0.00

Health Care Proceed

137900.00

Debt Interest Proceed

0

Business Type

Subchapter S Corporation

Originating Lender Location Id

39217

Originating Lender

Community Bank of Mississippi

Originating Lender City

Forest

Originating Lender State

MS

Gender

Female Owned

Veteran

Non-Veteran

Non Profit

Forgiveness Amount

1035539.27

Forgiveness Date

01/25/2021

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