# PPP loan: MAGNIRIS INC
> **$200K** approved 05/01/2020 · Exemption 4 · Loan `6930267703`
## Borrower
- **Name:** MAGNIRIS INC
- **Address:** 2227 US HIGHWAY 1, NORTH BRUNSWICK, NJ, 08902-4402
- **NAICS:** 999990
- **Business type:** Subchapter S Corporation
- **Business age:** Unanswered
## Loan
- **Approval amount:** $200K
- **Initial approval:** $200K
- **Forgiven:** $161K (81%)
- **Forgiveness date:** 09/10/2021
- **Status:** Exemption 4
- **Term:** 60 months
## Use of funds
- **Payroll:** $200K
- **Jobs reported:** 12
## 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*