ADAMS MAGNETIC PRODUCTS CO (IL) - 2020 PPP Loan Borrower Profile (# 1598727105)

Updated on April 18, 2025.

See below the business details and the detail of the 2020 PPP loan given to ADAMS MAGNETIC PRODUCTS CO. The Paycheck Protection Program (PPP) loan was intended to provide incentives for small businesses to keep their workers on payroll.

You can see similar information for other borrowers in Illinois.

Loan Detail

Loan Number

1598727105

SBA Office Code

0507

Processing Method

PPP

Curent Loan Amount

$892,042

Date Loan was Approved

Apr 10, 2020

Amount Forgiven

$902,411

Date Loan was Forgiven

Jun 14, 2021

Loan Status

Paid in Full

Loan Term

24 Months

Utilities Proced

Payroll Proced

718,980

Mortgage Interest Proceed

Rent Proceed

94,829

Refinance EIDL Proceed

Health Care Proceed

78,233

Debt Interest Proceed

Lender

JPMorgan Chase Bank, National Association

Business Detail

Business Type

Subchapter S Corporation

NAICS

327110

Borrower Location

Elmhurst, IL

Project Location

Elmhurst, IL

Rural/Urban

Urban

Hubzone

Labor Market Information (LMI)

Jobs Reported

Business Age Description

Existing or more than 2 years old

Data Source: SBA.