# PPP loan: MAGNIFICO INC.
> **$7.21M** approved 05/18/2020 · Exemption 4 · Loan `8321667404`
## Borrower
- **Name:** MAGNIFICO INC.
- **Address:** 315 w 36TH ST, NEW YORK, NY, 10018-6404
- **NAICS:** 511210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $7.21M
- **Initial approval:** $7.21M
- **Status:** Exemption 4
- **Term:** 10 months
## Use of funds
- **Payroll:** $7.21M
- **Jobs reported:** 441
## Lender
- **Originating:** Fountainhead SBF LLC
- **Servicing:** Fountainhead SBF LLC (FL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*