# PPP loan: MAGNOLIA TORQUE & TESTING, INC.
> **$550K** approved 04/28/2020 · Paid in Full · Loan `8615577200`
## Borrower
- **Name:** MAGNOLIA TORQUE & TESTING, INC.
- **Address:** 208 Easy Street, LAFAYETTE, LA, 70506
- **NAICS:** 213112
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $550K
- **Initial approval:** $550K
- **Forgiven:** $398K (72%)
- **Forgiveness date:** 05/04/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $550K
- **Jobs reported:** 36
## Lender
- **Originating:** First National Bank of Louisiana
- **Servicing:** First National Bank of Louisiana (LA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*