PPP Loan information for Magnetic seal corp

$1,332,956

Magnetic seal corp was initially approved for PPP Loan of amount $1,332,956, the current approved amount is $1,332,956. The loan was approved on 02/25/2021 by The BayCoast Bank reported 95 jobs and $1,332,956 was used to fund payroll.

Magnetic seal corp is Existing or more than 2 years old

PPP Loan Search / RI / Warren / Magnetic seal corp

MAGNETIC SEAL CORP

Date Approved

02/25/2021

SBA Office Code

0165

Processing Method

PPS

Borrower Name

MAGNETIC SEAL CORP

Borrower Address

365 Market St

Borrower City

Warren

Borrower State

RI

Borrower Zip

02885-2636

Loan Status Date

11/20/2021

Loan Status

Paid in Full

Term

60

SBA Guaranty Percentage

100

Initial Approval Amount

1332956.00

Current Approval Amount

1332956.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

32784

Servicing Lender Name

BayCoast Bank

Servicing Lender Address

330 Swansea Mall Dr

Servicing Lender City

SWANSEA

Servicing Lender State

MA

Servicing Lender Zip

02777-4112

Rural Urban Indicator

U

Hubzone Indicator

N

HLMI Indicator

N

Business Age Description

Existing or more than 2 years old

Project City

Warren

Project County Name

BRISTOL

Project State

RI

Project Zip

02885-2636

CD

RI-01

Jobs Reported

95

NAICS Code

339991

Race

White

Ethnicity

Hispanic or Latino

Utilities Proceed

1.00

Payroll Proceed

1332954.00

Mortgage Interest Proceed

0.00

Rent Proceed

0.00

Refinance EIDL Proceed

0.00

Health Care Proceed

0.00

Debt Interest Proceed

0

Business Type

Corporation

Originating Lender Location Id

32784

Originating Lender

BayCoast Bank

Originating Lender City

SWANSEA

Originating Lender State

MA

Gender

Male Owned

Veteran

Non-Veteran

Non Profit

Forgiveness Amount

1340990.76

Forgiveness Date

10/25/2021

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