# PPP loan: MAGIC INDUSTRIES, INC.
> **$163K** approved 05/08/2020 · Exemption 4 · Loan `3911067409`
## Borrower
- **Name:** MAGIC INDUSTRIES, INC.
- **Address:** 3024 Bells Road, Richmond, VA, 23234-1608
- **NAICS:** 561920
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $163K
- **Initial approval:** $163K
- **Forgiven:** $64K (39%)
- **Forgiveness date:** 05/17/2022
- **Status:** Exemption 4
- **Term:** 24 months
## Use of funds
- **Payroll:** $122K
- **Mortgage interest:** $20K
- **Utilities:** $20K
- **Jobs reported:** 35
## Lender
- **Originating:** First Community Bank
- **Servicing:** First Community Bank (VA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*