Magnet Paint & Shellac Co, Inc.

$157,800 PPP Loan in Cullman, Alabama

Loan Details

Loan Number
5288527107
Date Approved
Apr 13, 2020
Loan Status
Paid in Full
Initial Approval
$157,800
Current Approval
$157,800
Forgiveness Amount
$159,843
Forgiveness Date
Jul 28, 2021
Term
24 months
Draw
First Draw

Business Information

Business Name
Magnet Paint & Shellac Co, Inc.
Address
310 County Road 1246
State
Alabama
ZIP Code
35057
Business Type
Corporation
Industry (NAICS)
Manufacturing (325510)
Business Age
Existing or more than 2 years old
Jobs Reported
17
Estimated Revenue
$16.9M
Rural/Urban
Rural
Congressional District
AL-04

Loan Use Breakdown

Payroll
$123,825
Utilities
$11,274
Mortgage Interest
$22,701

Lender Information

Servicing Lender
Peoples Bank of Alabama
Originating Lender
Peoples Bank of Alabama

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