# PPP loan: MAGARRAY INC
> **$426K** approved 04/13/2020 · Paid in Full · Loan `5508367110`
## Borrower
- **Name:** MAGARRAY INC
- **Address:** 521 Cottonwood Drive, Suite 121, Milpitas, CA, 95035
- **NAICS:** 621511
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $426K
- **Initial approval:** $426K
- **Forgiven:** $429K (101%)
- **Forgiveness date:** 02/24/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $362K
- **Mortgage interest:** $64K
- **Jobs reported:** 19
## Lender
- **Originating:** Silicon Valley Bridge Bank NA
- **Servicing:** First-Citizens Bank & Trust Company (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*