# PPP loan: MAGNETTI LOGISTICS INC
> **$247K** approved 04/10/2020 · Paid in Full · Loan `2188157102`
## Borrower
- **Name:** MAGNETTI LOGISTICS INC
- **Address:** 697 ASPEN LN, DUNCANSVILLE, PA, 16635-7068
- **NAICS:** 492210
- **Business type:** Subchapter S Corporation
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $247K
- **Initial approval:** $247K
- **Forgiven:** $249K (101%)
- **Forgiveness date:** 04/08/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $247K
- **Jobs reported:** 25
## Lender
- **Originating:** AmeriServ Financial Bank
- **Servicing:** AmeriServ Financial Bank (PA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*