PPP Loan information for Magnetic seal corp

$1,252,200

Magnetic seal corp was initially approved for PPP Loan of amount $1,442,500, the current approved amount is $1,252,200. The loan was approved on 04/03/2020 by The BankNewport reported 90 jobs and $1,252,200 was used to fund payroll.

Magnetic seal corp is Existing or more than 2 years old

PPP Loan Search / RI / WARREN / Magnetic seal corp

MAGNETIC SEAL CORP

Date Approved

04/03/2020

SBA Office Code

0165

Processing Method

PPP

Borrower Name

MAGNETIC SEAL CORP

Borrower Address

365 MARKET ST

Borrower City

WARREN

Borrower State

RI

Borrower Zip

02885-2636

Loan Status Date

08/27/2021

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

1442500.00

Current Approval Amount

1252200.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

65657

Servicing Lender Name

BankNewport

Servicing Lender Address

10 Washington Sq

Servicing Lender City

NEWPORT

Servicing Lender State

RI

Servicing Lender Zip

02840-2948

Rural Urban Indicator

U

Hubzone Indicator

N

HLMI Indicator

N

Business Age Description

Existing or more than 2 years old

Project City

WARREN

Project County Name

BRISTOL

Project State

RI

Project Zip

02885-2636

CD

RI-01

Jobs Reported

90

NAICS Code

333999

Race

White

Ethnicity

Hispanic or Latino

Utilities Proceed

0.00

Payroll Proceed

1252200.00

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

65657

Originating Lender

BankNewport

Originating Lender City

NEWPORT

Originating Lender State

RI

Gender

Male Owned

Veteran

Non-Veteran

Non Profit

Forgiveness Amount

1263281.11

Forgiveness Date

03/24/2021

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