# PPP loan: MAG VENTURES, LLC
> **$1.07M** approved 04/03/2020 · Paid in Full · Loan `4489407010`
## Borrower
- **Name:** MAG VENTURES, LLC
- **Address:** 415 TAUNTON AVE, EAST PROVIDENCE, RI, 02914-2633
- **NAICS:** 441110
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.07M
- **Initial approval:** $849K
- **Forgiven:** $1.09M (101%)
- **Forgiveness date:** 06/28/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $945K
- **Rent:** $100K
- **Utilities:** $30K
- **Jobs reported:** 78
## Lender
- **Originating:** Mechanics Cooperative Bank
- **Servicing:** Mechanics Cooperative Bank (MA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*