# PPP loan: MIL-SPEC MAGNETICS, INC.
> **$484K** approved 04/03/2020 · Paid in Full · Loan `4538947005`
## Borrower
- **Name:** MIL-SPEC MAGNETICS, INC.
- **Address:** 169 Pacific Street, POMONA, CA, 91768-3215
- **NAICS:** 531120
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $484K
- **Initial approval:** $543K
- **Forgiven:** $488K (101%)
- **Forgiveness date:** 01/14/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $376K
- **Rent:** $54K
- **Mortgage interest:** $54K
- **Jobs reported:** 50
## Lender
- **Originating:** GBC International Bank
- **Servicing:** GBC International Bank (CA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*