There were 26 PPP loans issued in Minnesota during the week ending June 21. The average loan size in the state was between $150,000 to 350,000.
There are approximately five million approved PPP loans with a total of $517,451,965,102 set aside for funding, according to the Small Business Administration. The average loan size was around $105,000 with over 5,000 lenders currently participating in the program.
The program was slow to get off the ground when it was crushed by an onslaught of would-be applicants. Another major criticism of the program pertained to who was receiving the loans. A program that was meant for small businesses witnessed the Los Angeles Lakers receive $4.6 million from the program. The Lakers qualified for the program under the rules as written but returned the funds according to a Laker’s statement provided to news outlets.
| Recipients | Date Received | Dollar Amount Received |
|---|---|---|
| Bloomington Central Station Hotel, LLC | 2020-06-15 | $1-2 million |
| Jmir Marquette Hotel Operator, LLC | 2020-06-15 | $1-2 million |
| Koch School Bus Service, Inc. | 2020-06-15 | $350,000-1 million |
| Complete Tool Grinding, Inc. | 2020-06-15 | $150,000-350,000 |
| Minneapolis Orthopaedics, Ltd. | 2020-06-16 | $150,000-350,000 |
| Evergreen Real Estate Development Corporation | 2020-06-17 | $350,000-1 million |
| The Estates at Excelsior, LLC | 2020-06-17 | $350,000-1 million |
| ABC Coating Company of Minnesota, Inc. | 2020-06-17 | $150,000-350,000 |
| Code Welding & Manufacturing, Inc. | 2020-06-17 | $150,000-350,000 |
| Demo Plus, Inc. | 2020-06-17 | $150,000-350,000 |
| Fairfax Community Home, Inc. | 2020-06-17 | $150,000-350,000 |
| Holt Tour & Charter, Inc. | 2020-06-17 | $150,000-350,000 |
| Tea Olive I, LLC | 2020-06-18 | $5-10 million |
| CSM Lodging III, L.L.C. | 2020-06-18 | $1-2 million |
| Donald F Noack | 2020-06-18 | $150,000-350,000 |
| Estelle Holdings, LLC | 2020-06-18 | $150,000-350,000 |
| Open ARMS HHC Des Moines, LLC | 2020-06-18 | $150,000-350,000 |
| SVI America Corporation | 2020-06-18 | $150,000-350,000 |
| Accents of Africa Designs, LLC | 2020-06-19 | $350,000-1 million |
| Lee D Jess Ltd., D.D.S. | 2020-06-19 | $150,000-350,000 |
| Midwestern Higher Education Commission | 2020-06-19 | $150,000-350,000 |
| Promet International, Inc. | 2020-06-19 | $150,000-350,000 |
| The Ball Park Cafe, Inc. | 2020-06-19 | $150,000-350,000 |
| Design & Techical Services, Inc. | 2020-06-21 | $350,000-1 million |
| Management Cleaning, Inc. | 2020-06-21 | $350,000-1 million |
| Marketing Enterprise, Inc. | 2020-06-21 | $350,000-1 million |
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