# PPP loan: MAGNELAB INC
> **$191K** approved 05/18/2020 · Paid in Full · Loan `8353397400`
## Borrower
- **Name:** MAGNELAB INC
- **Address:** 600 WEAVER PARK ROAD, LONGMONT, CO, 80501
- **NAICS:** 334419
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $191K
- **Initial approval:** $191K
- **Forgiven:** $193K (101%)
- **Forgiveness date:** 09/23/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $191K
- **Jobs reported:** 14
## Lender
- **Originating:** Wells Fargo Bank, National Association
- **Servicing:** Wells Fargo Bank, National Association (SD)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*