# PPP loan: MAGNASOFT TECHNOLOGIES INC
> **$151K** approved 05/02/2020 · Charged Off · Loan `9512497300`
## Borrower
- **Name:** MAGNASOFT TECHNOLOGIES INC
- **Address:** 59 COURTLAND AVENUE 1W, STAMFORD, CT, 06902
- **NAICS:** 541512
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $151K
- **Initial approval:** $151K
- **Status:** Charged Off
- **Term:** 3 months
## Use of funds
- **Payroll:** $151K
- **Jobs reported:** 8
## Lender
- **Originating:** Northeast Bank
- **Servicing:** Loan Source Incorporated (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*