# PPP loan: MAGNECO/METREL, INC.
> **$2.46M** approved 04/29/2020 · Paid in Full · Loan `2624067303`
## Borrower
- **Name:** MAGNECO/METREL, INC.
- **Address:** 233 W. Interstate Road, ADDISON, IL, 60101-4513
- **NAICS:** 332812
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $2.46M
- **Initial approval:** $2.46M
- **Forgiven:** $2.49M (101%)
- **Forgiveness date:** 06/22/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $2.46M
- **Jobs reported:** 145
## Lender
- **Originating:** The Northern Trust Company
- **Servicing:** The Northern Trust Company (IL)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*