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Magnetic Products INC

$727,676 PPP Loan in Highland, Michigan

Loan Details

Loan Number
1164498303
Date Approved
Jan 16, 2021
Loan Status
Paid in Full
Initial Approval
$727,676
Current Approval
$727,676
Forgiveness Amount
$731,105
Forgiveness Date
Jul 19, 2021
Term
60 months
Draw
Second Draw

Business Information

Business Name
Magnetic Products INC
Address
683 Town Center Dr
City
Highland
State
Michigan
ZIP Code
48356-2965
Business Type
Corporation
Industry (NAICS)
Manufacturing (335999)
Business Age
Existing or more than 2 years old
Jobs Reported
45
Estimated Revenue
$11.8M
Rural/Urban
Urban
Congressional District
MI-09

Loan Use Breakdown

Payroll
$727,675

Lender Information

Servicing Lender
Chelsea State Bank
Originating Lender
Chelsea State Bank

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