# PPP loan: MAGERKS ELON INC.
> **$180K** approved 01/22/2021 · Paid in Full · Loan `3489008304`
## Borrower
- **Name:** MAGERKS ELON INC.
- **Address:** 138 W. LEBANON ST, ELON, NC, 27244
- **NAICS:** 722511
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $180K
- **Initial approval:** $180K
- **Forgiven:** $182K (101%)
- **Forgiveness date:** 12/23/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $180K
- **Jobs reported:** 50
## Lender
- **Originating:** The Fidelity Bank
- **Servicing:** The Fidelity Bank (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*