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 56544
| Name of Borrower | Current Approved Amount |
|---|---|
| Daggett Truck Line, Inc. | $778,400 |
| LSS of Frazee, LLC | $496,300 |
| Mickelson Farms, Inc. | $434,200 |
| Marine Innovations, Inc. | $227,000 |
| Josh Hanson's Spanky's, Inc. | $208,900 |
| B & D Transport, Inc. | $191,700 |
| Evergreen Ranch Incorporated | $190,500 |
| BM Transport, Inc. | $155,400 |
| MN-Kota Concrete, Inc. | $122,500 |
| Anderson Coach of Frazee, Inc. | $117,300 |
| Dock & Lift Services, LLC | $112,600 |
| Dennis Drewes, Inc. | $109,400 |
| Recon Engineering Group, LLC | $79,600 |
| Frazee Electric, Inc. | $78,800 |
| Beach King, Inc. | $77,800 |
| Classic Concrete Contractors, LLP | $75,300 |
| At Ease Dock & Lift, Inc. | $75,000 |
| All in All Frazee, Inc. | $62,800 |
| Blanchard Construction Company, Inc. | $57,400 |
| Heston Contracting, Inc. | $54,100 |
| Creative Wisdom, Inc. | $49,000 |
| Ketter's Meats | $41,300 |
| J & A Dairy, LLC | $36,200 |
| Forrest Briard | $35,931 |
| HCJL, Inc. | $32,500 |
| Ewanika's Unlimited Repair, LLC | $31,600 |
| OK Lumber & Hardware, LLC | $31,300 |
| JK Northland Construction, LLC | $29,998 |
| Hass Geosystems, Inc. | $26,900 |
| Cummings Crew Construction, LLC | $25,700 |
| Strehlow Insulation, LLC | $24,300 |
| Sacred Heart Church | $22,800 |
| Bethlehem Lutheran Church | $22,700 |
| Precision Steel, LLC | $22,700 |
| Baumgart Auto Repair, LLC | $22,000 |
| Z Outdoors, Inc. | $21,500 |
| Harvest Fellowship Church | $21,500 |
| Frazee Golf, Inc. | $21,000 |
| Mike Rux Dairy | $20,833 |
| Karl L. Hanson | $20,833 |
| Timothy Aho | $20,832 |
| S & S Carpet Service, Inc. | $19,500 |
| Stepping Stone Properties of Perham, Inc. | $17,900 |
| North Central Camp Cherith | $17,837 |
| Frazee Auto Body & Glass, LLC | $17,400 |
| Cummings Electric, LLC | $16,000 |
| Burkel Turkey Farms, Inc. | $15,705 |
| Acorn Lake Veterinary Service | $15,000 |
| H. O. L. VFW Post #7702 Department of MN | $13,500 |
| Smoky Hills Farmers Cooperation | $13,200 |
| John Schultz | $12,800 |
| Innovative Employee Benefit Solutions, Inc. | $10,861 |
| Gary Flatau | $10,765 |
| Industrial Service Electric | $10,000 |
| Computer Technologies of DL, Inc. | $8,333 |
| Sota Lake Properties | $7,200 |
| Andrew Ingvalson | $7,200 |
| Richard Christensen Dairy | $7,120 |
| Hoehne Farms | $7,043 |
| Log Creations by MB, LLC | $6,600 |
| Springwood Pottery, Inc. | $6,100 |
| Tammy M. Torma | $5,700 |
| Certified Interpreting and Consulting, Inc. | $5,699 |
| D & S Lakes Area Construction, LLC | $5,500 |
| Northern Lights Dance Academy | $5,200 |
| Jrjepson Construction and Landscaping, LLC | $5,100 |
| D&N Transport Services, LLC | $4,800 |
| Aaron Boyer Construction | $4,100 |
| Jessica Sonnenberg | $2,900 |
| Birchmere, LLC | $2,600 |
| Solberg & Sons, LLC | $2,500 |
| Kevin Kovar | $2,400 |
| Jason Wothe | $2,350 |
| Frazee United Methodist Church | $1,700 |
| Hans Wothe | $1,510 |
| Roy Schwartz Construction | $500 |
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