# PPP loan: ESOP MAGNUS PRECISION MFG
> **$565K** approved 01/16/2021 · Paid in Full · Loan `1001528305`
## Borrower
- **Name:** ESOP MAGNUS PRECISION MFG
- **Address:** 1912 State Route 96, Phelps, NY, 14532-9705
- **NAICS:** 332710
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $565K
- **Initial approval:** $565K
- **Forgiven:** $567K (100%)
- **Forgiveness date:** 06/15/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $565K
- **Utilities:** $1
- **Jobs reported:** 43
## Lender
- **Originating:** The North Side Bank and Trust Company
- **Servicing:** The North Side Bank and Trust Company (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*