# PPP loan: MAGIC METALS INC
> **$1.57M** approved 02/27/2021 · Paid in Full · Loan `5503338501`
## Borrower
- **Name:** MAGIC METALS INC
- **Address:** 3401 Bay St, Union Gap, WA, 98903-1886
- **NAICS:** 332322
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.57M
- **Initial approval:** $1.57M
- **Forgiven:** $1.59M (101%)
- **Forgiveness date:** 01/21/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $1.57M
- **Utilities:** $1
- **Jobs reported:** 152
## Lender
- **Originating:** Umpqua Bank
- **Servicing:** Umpqua Bank (OR)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*