# PPP loan: MAGNETIC PRODUCTS INC
> **$685K** approved 04/14/2020 · Paid in Full · Loan `6284377107`
## Borrower
- **Name:** MAGNETIC PRODUCTS INC
- **Address:** 683 TOWN CENTER DR, HIGHLAND, MI, 48356-2965
- **NAICS:** 333241
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $685K
- **Initial approval:** $685K
- **Forgiven:** $690K (101%)
- **Forgiveness date:** 12/02/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $685K
- **Jobs reported:** 43
## Lender
- **Originating:** PNC Bank, National Association
- **Servicing:** PNC Bank, National Association (DE)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*