# PPP loan: MAGIC PLASTICS, INCORPORATED
> **$1.09M** approved 04/07/2020 · Paid in Full · Loan `6960107005`
## Borrower
- **Name:** MAGIC PLASTICS, INCORPORATED
- **Address:** 25215 AVENUE STANFORD, VALENCIA, CA, 91355-1213
- **NAICS:** 326199
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.09M
- **Initial approval:** $1.09M
- **Forgiven:** $1.10M (101%)
- **Forgiveness date:** 02/26/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $903K
- **Rent:** $64K
- **Utilities:** $50K
- **Health care:** $78K
- **Jobs reported:** 109
## Lender
- **Originating:** American Business Bank
- **Servicing:** American Business Bank (CA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*