# PPP loan: MAGNUM MAGNETICS CORPORATION
> **$2.25M** approved 04/05/2020 · Paid in Full · Loan `5552937003`
## Borrower
- **Name:** MAGNUM MAGNETICS CORPORATION
- **Address:** 801 Masonic Park Road, MARIETTA, OH, 45750-9357
- **NAICS:** 334613
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $2.25M
- **Initial approval:** $2.25M
- **Forgiven:** $2.27M (101%)
- **Forgiveness date:** 05/24/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $2.25M
- **Jobs reported:** 177
## Lender
- **Originating:** First National Bank of Pennsylvania
- **Servicing:** First National Bank of Pennsylvania (PA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*