# PPP loan: MAGNETIC SEAL CORP
> **$1.25M** approved 04/03/2020 · Paid in Full · Loan `4357807010`
## Borrower
- **Name:** MAGNETIC SEAL CORP
- **Address:** 365 MARKET ST, WARREN, RI, 02885-2636
- **NAICS:** 333999
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.25M
- **Initial approval:** $1.44M
- **Forgiven:** $1.26M (101%)
- **Forgiveness date:** 03/24/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.25M
- **Jobs reported:** 90
## Lender
- **Originating:** BankNewport
- **Servicing:** BankNewport (RI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*