# PPP loan: NOVA MAGNETICS INC.
> **$482K** approved 03/17/2021 · Paid in Full · Loan `3703398601`
## Borrower
- **Name:** NOVA MAGNETICS INC.
- **Address:** 1101 E Walnut St, Garland, TX, 75040-6615
- **NAICS:** 334416
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $482K
- **Initial approval:** $482K
- **Forgiven:** $488K (101%)
- **Forgiveness date:** 07/08/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $482K
- **Utilities:** $1
- **Jobs reported:** 55
## Lender
- **Originating:** Truist Bank
- **Servicing:** Truist Bank (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*