# PPP loan: MAGTROL, INC.
> **$690K** approved 04/08/2020 · Paid in Full · Loan `8712417004`
## Borrower
- **Name:** MAGTROL, INC.
- **Address:** 70 Gardenville Parkway West 0.0, Buffalo, NY, 14224-1322
- **NAICS:** 334519
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $690K
- **Initial approval:** $690K
- **Forgiven:** $696K (101%)
- **Forgiveness date:** 02/19/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $610K
- **Rent:** $484
- **Mortgage interest:** $11K
- **Utilities:** $14K
- **Health care:** $54K
- **Jobs reported:** 48
## Lender
- **Originating:** JPMorgan Chase Bank, National Association
- **Servicing:** JPMorgan Chase Bank, National Association (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*