Magnetic Technology, Inc.

$197,700 PPP Loan in Mckinney, Texas

Loan Details

Loan Number
3267327304
Date Approved
Apr 29, 2020
Loan Status
Paid in Full
Initial Approval
$197,700
Current Approval
$197,700
Forgiveness Amount
$199,747
Forgiveness Date
May 27, 2021
Term
24 months
Draw
First Draw

Business Information

Business Name
Magnetic Technology, Inc.
Address
1627 Bray Central Dr
State
Texas
ZIP Code
75069-8206
Business Type
Corporation
Industry (NAICS)
Manufacturing (334419)
Business Age
Existing or more than 2 years old
Jobs Reported
26
Estimated Revenue
$6.8M
Rural/Urban
Urban
Congressional District
TX-03

Loan Use Breakdown

Payroll
$197,700

Lender Information

Servicing Lender
Prosperity Bank
Originating Lender
Prosperity Bank

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