# PPP loan: SOMA MAGNETICS, INC.
> **$200K** approved 01/30/2021 · Exemption 4 · Loan `9061188308`
## Borrower
- **Name:** SOMA MAGNETICS, INC.
- **Address:** 585 S State College Blvd, Fullerton, CA, 92831-5113
- **NAICS:** 334419
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $200K
- **Initial approval:** $200K
- **Forgiven:** $159K (80%)
- **Forgiveness date:** 10/26/2022
- **Status:** Exemption 4
- **Term:** 60 months
## Use of funds
- **Payroll:** $200K
- **Utilities:** $1
- **Jobs reported:** 18
## Lender
- **Originating:** Wells Fargo Bank, National Association
- **Servicing:** Wells Fargo Bank, National Association (SD)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*