# PPP loan: MAGNUM STEEL WORKS, INC
> **$887K** approved 04/03/2020 · Paid in Full · Loan `4370977009`
## Borrower
- **Name:** MAGNUM STEEL WORKS, INC
- **Address:** 200 SHILOH DR, MOUNT VERNON, IL, 62864-8347
- **NAICS:** 333249
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $887K
- **Initial approval:** $887K
- **Forgiven:** $895K (101%)
- **Forgiveness date:** 03/09/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $665K
- **Rent:** $100K
- **Health care:** $122K
- **Jobs reported:** 87
## Lender
- **Originating:** Peoples National Bank, National Association
- **Servicing:** Peoples National Bank, National Association (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*