The Paycheck Protection Program (PPP) provided loans to small businesses affected by the COVID-19 pandemic. Companies with less than 500 employees, sole-proprietorships, independent contractors and self-employed individuals could qualify for these loans, according to Harvard Business School.
A report on the program analyzed by the Peter G. Peterson Foundation found the “distribution of loans across sectors didn’t mirror the distribution of job losses.” It showed restaurants and food service businesses did not receive many loans, despite suffering the highest level of job losses.
A preliminary analysis from the National Bureau of Economic Research suggests the areas most affected by economic disruption did not receive the most loans.
The Paycheck Protection Program ended on May 31, 2021. Existing borrowers may be eligible for loan forgiveness at the discretion of the lender.
PPP loans distributed in 2020 in ZIP Code 56531
| Name of Borrower | Current Approved Amount |
|---|---|
| Elbow Lake Cooperation Grain | $395,567 |
| Cross Country Construction, LLC | $327,800 |
| Cosmos Enterprises, Inc. | $228,800 |
| Farmers Agency, Inc. | $140,200 |
| The Elbow Lake Dental Center, Inc. | $104,250 |
| Farmers Cooperative Oil Company | $81,057 |
| JL Coleman Farms, Inc. | $77,300 |
| Haley Oil Company | $74,030 |
| Rupp's Unique Auto Body, LLC | $71,600 |
| Jim's Enterprises of Elbow Lake, Inc. | $61,945 |
| Prairie Air, Inc. | $60,200 |
| Chad Westrom | $52,700 |
| Red River Marketing, Company | $52,700 |
| Grant County Lumber, Inc. | $51,697 |
| Lake Region Small Animal Center | $51,558 |
| Tipsinah Mounds Country Club, Inc. | $50,500 |
| Mark a. Ehlers, Inc. | $48,500 |
| Ellis Insurance, LLC | $41,800 |
| Scott Tyberg | $41,300 |
| A & A Drywall, LLC | $39,313 |
| Farm & Home Sales, Inc. | $38,800 |
| Kevin Pattison | $37,992 |
| Elbow Lake Soft Water, Inc. | $34,455 |
| Kastner Chiropractic, LLC | $33,600 |
| S. B. Swenson | $33,333 |
| Prairie Builders | $32,800 |
| Troy Johnsrud | $32,500 |
| M & L Construction | $29,500 |
| Waskosky Well Drilling Contractors, Inc. | $28,900 |
| Midwest Manufacturers' Association | $28,200 |
| Grant County Abstract Company | $27,100 |
| United Lutheran Church | $26,195 |
| Productive Agent Services, LLC | $25,000 |
| Outstate Data, LLC | $25,000 |
| Dana Blume | $22,456 |
| Adam R. Johnson | $20,833 |
| Mark Huseth | $20,833 |
| PLS Construction, Inc. | $20,833 |
| Randall Island | $20,832 |
| Ellison Farm, Inc. | $18,867 |
| State Farm Insurance | $18,700 |
| Lake Country Technology, Inc. | $16,800 |
| Pomme De Terre | $16,600 |
| East Ridge Crop & Soil Associates, Inc. | $16,429 |
| Mark Myron | $15,800 |
| Gunerius Island | $15,092 |
| Deal Agent, LLC | $14,565 |
| TSI Real Estate, LLC | $14,080 |
| Scott Biss | $13,922 |
| T-S Belgum Agency, Inc. | $13,785 |
| Goodneighbors Maplewood Manor, LLC | $13,200 |
| Frykman-Olson Lawn Care, LLC | $11,701 |
| Paul Jennen | $10,400 |
| Maneframe Salon and Boutique | $9,995 |
| James R. Aanerud | $9,900 |
| Fechtner Manufacturing | $9,750 |
| Steven Woltjer | $9,705 |
| B & J Landscaping | $9,600 |
| Engen Transport | $9,000 |
| Fishin' With Frisch, Inc. | $7,500 |
| Richard O. Swenson | $7,235 |
| Jared Frykman | $6,877 |
| Michael J. Frisch | $6,250 |
| Anna Westrom | $6,100 |
| Elbow Lake Fire Department Relief Association | $6,000 |
| Jason Kirchenwitz | $5,576 |
| SBI Carpentry, LLC | $5,031 |
| Hair Fusion | $4,700 |
| Westrom Law Office, PLLC | $4,300 |
| Tiny Tots Child Care | $4,000 |
| Lynn Hatzenbeler | $3,333 |
| Randy Haberer | $2,806 |
| Richard Jennen II | $2,700 |
| Cory Biss | $2,336 |
| Jason Puchalski | $1,340 |
| Aastad Rock Praiie Parish | $1,000 |
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