# PPP loan: MAGNETOSPEED LLC
> **$170K** approved 04/14/2020 · Paid in Full · Loan `5980097105`
## Borrower
- **Name:** MAGNETOSPEED LLC
- **Address:** 8801 TARA LN, AUSTIN, TX, 78737-1146
- **NAICS:** 326299
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $170K
- **Initial approval:** $170K
- **Forgiven:** $172K (101%)
- **Forgiveness date:** 12/31/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $170K
- **Jobs reported:** 12
## Lender
- **Originating:** Bank of America, National Association
- **Servicing:** Bank of America, National Association (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*