# PPP loan: MAGNI-FLOOD INC.
> **$260K** approved 04/15/2020 · Paid in Full · Loan `1880737210`
## Borrower
- **Name:** MAGNI-FLOOD INC.
- **Address:** 7200 NEW HORIZONS BLVD, AMITYVILLE, NY, 11701
- **NAICS:** 335122
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $260K
- **Initial approval:** $260K
- **Forgiven:** $264K (101%)
- **Forgiveness date:** 08/05/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $245K
- **Utilities:** $15K
- **Jobs reported:** 25
## Lender
- **Originating:** Stearns Bank National Association
- **Servicing:** Loan Source Incorporated (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*