# PPP loan: MAGTEK, INC.
> **$3.00M** approved 04/27/2020 · Paid in Full · Loan `3772767210`
## Borrower
- **Name:** MAGTEK, INC.
- **Address:** 1710 Apollo Court 0, Seal Beach, CA, 90740-5617
- **NAICS:** 334118
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $3.00M
- **Initial approval:** $4.14M
- **Forgiven:** $3.03M (101%)
- **Forgiveness date:** 06/15/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $3.00M
- **Jobs reported:** 231
## Lender
- **Originating:** Citibank, N.A.
- **Servicing:** Citibank, N.A. (SD)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*