# PPP loan: MAGNETIC SEAL CORP
> **$1.33M** approved 02/25/2021 · Paid in Full · Loan `4358268502`
## Borrower
- **Name:** MAGNETIC SEAL CORP
- **Address:** 365 Market St, Warren, RI, 02885-2636
- **NAICS:** 339991
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.33M
- **Initial approval:** $1.33M
- **Forgiven:** $1.34M (101%)
- **Forgiveness date:** 10/25/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $1.33M
- **Utilities:** $1
- **Jobs reported:** 95
## Lender
- **Originating:** BayCoast Bank
- **Servicing:** BayCoast Bank (MA)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*