# PPP loan: FERRO MAGNETICS CORPORATION
> **$318K** approved 04/07/2020 · Paid in Full · Loan `6472187008`
## Borrower
- **Name:** FERRO MAGNETICS CORPORATION
- **Address:** 4328 Bridgeton Industrial Dr, BRIDGETON, MO, 63044-1204
- **NAICS:** 335999
- **Business type:** Corporation
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $318K
- **Initial approval:** $318K
- **Forgiven:** $321K (101%)
- **Forgiveness date:** 03/31/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $318K
- **Jobs reported:** 36
## Lender
- **Originating:** UMB Bank, National Association
- **Servicing:** UMB Bank, National Association (MO)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*