# PPP loan: MAGNUM STEEL WORKS INC.
> **$695K** approved 01/22/2021 · Paid in Full · Loan `3775688310`
## Borrower
- **Name:** MAGNUM STEEL WORKS INC.
- **Address:** 200 Shiloh Dr, Mount Vernon, IL, 62864-8347
- **NAICS:** 339999
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $695K
- **Initial approval:** $695K
- **Forgiven:** $698K (100%)
- **Forgiveness date:** 07/27/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $695K
- **Utilities:** $1
- **Jobs reported:** 50
## Lender
- **Originating:** Peoples National Bank, National Association
- **Servicing:** Peoples National Bank, National Association (IL)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*