PPP Loan information for Magnet paint & shellac co, inc.

$157,800

Magnet paint & shellac co, inc. was initially approved for PPP Loan of amount $157,800, the current approved amount is $157,800. The loan was approved on 04/13/2020 by The Peoples Bank of Alabama reported 17 jobs and $157,800 was used to fund payroll.

Magnet paint & shellac co, inc. is Existing or more than 2 years old

PPP Loan Search / AL / CULLMAN / Magnet paint & shellac co, inc.

MAGNET PAINT & SHELLAC CO, INC.

Date Approved

04/13/2020

SBA Office Code

0459

Processing Method

PPP

Borrower Name

MAGNET PAINT & SHELLAC CO, INC.

Borrower Address

310 County Road 1246

Borrower City

CULLMAN

Borrower State

AL

Borrower Zip

35057

Loan Status Date

08/06/2021

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

157800.00

Current Approval Amount

157800.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

2037

Servicing Lender Name

Peoples Bank of Alabama

Servicing Lender Address

1912 Cherokee Ave SW

Servicing Lender City

CULLMAN

Servicing Lender State

AL

Servicing Lender Zip

35055-5595

Rural Urban Indicator

R

Hubzone Indicator

N

HLMI Indicator

N

Business Age Description

Existing or more than 2 years old

Project City

CULLMAN

Project County Name

CULLMAN

Project State

AL

Project Zip

35057-0100

CD

AL-04

Jobs Reported

17

NAICS Code

325510

Race

White

Ethnicity

Not Hispanic or Latino

Utilities Proceed

11273.75

Payroll Proceed

123825.00

Mortgage Interest Proceed

22701.25

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

2037

Originating Lender

Peoples Bank of Alabama

Originating Lender City

CULLMAN

Originating Lender State

AL

Gender

Male Owned

Veteran

Non-Veteran

Non Profit

Forgiveness Amount

159842.63

Forgiveness Date

07/28/2021

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