# PPP loan: MAGNESS OIL COMPANY
> **$1.26M** approved 04/04/2020 · Paid in Full · Loan `4847897007`
## Borrower
- **Name:** MAGNESS OIL COMPANY
- **Address:** 167 TUCKER CEMETERY RD, GASSVILLE, AR, 72635-8701
- **NAICS:** 447110
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.26M
- **Initial approval:** $1.26M
- **Forgiven:** $1.27M (101%)
- **Forgiveness date:** 01/07/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.22M
- **Health care:** $42K
- **Jobs reported:** 125
## Lender
- **Originating:** FNBC Bank
- **Servicing:** FNBC Bank (AR)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*