# PPP loan: MGM TRANSFORMER CO.
> **$1.05M** approved 04/10/2020 · Paid in Full · Loan `2583737110`
## Borrower
- **Name:** MGM TRANSFORMER CO.
- **Address:** 5701 SMITHWAY ST, COMMERCE, CA, 90040-1507
- **NAICS:** 335311
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.05M
- **Initial approval:** $1.05M
- **Forgiven:** $1.06M (101%)
- **Forgiveness date:** 06/16/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $838K
- **Mortgage interest:** $210K
- **Jobs reported:** 77
## Lender
- **Originating:** Comerica Bank
- **Servicing:** Comerica Bank (TX)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*