# PPP loan: MAGNUM PRECISION MACHINES
> **$262K** approved 03/02/2021 · Paid in Full · Loan `6037698500`
## Borrower
- **Name:** MAGNUM PRECISION MACHINES
- **Address:** 8448 Washington Pl NE, Albuquerque, NM, 87113-1671
- **NAICS:** 423830
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $262K
- **Initial approval:** $262K
- **Forgiven:** $264K (101%)
- **Forgiveness date:** 10/22/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $262K
- **Jobs reported:** 17
## Lender
- **Originating:** New Mexico Bank and Trust, A Division of HTLF Bank
- **Servicing:** HTLF Bank (CO)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*