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 56567
| Name of Borrower | Current Approved Amount |
|---|---|
| Seip Drug, LLC | $614,033 |
| Bob Thompson Motor Company | $484,779 |
| K. Steinbach Incorporated | $451,600 |
| Lake Country Home Care, LLC | $219,200 |
| JM Nym, LLC | $97,800 |
| Lake Country Insurance, Inc. | $95,900 |
| Company-Op Services of New York Mills, Inc. | $94,487 |
| Warner Garage Door, Inc. | $93,515 |
| Quad X, Inc. | $93,022 |
| Lumber Depot, LLC | $80,000 |
| Koehler Dairy | $66,133 |
| Rachel K Grieger PA, D.D.S. | $65,138 |
| Trinity Lutheran Church | $62,347 |
| Jay Davis Trucking, Inc. | $48,400 |
| Modern Assemblies II, Inc. | $48,230 |
| RW Stucco, Inc. | $44,549 |
| Graham Refrigeration, Inc. | $44,000 |
| RL Miller Construction, Inc. | $41,500 |
| Mark F. McFarlane | $41,300 |
| Karvonen & Son Funeral Home, Inc. | $40,929 |
| Gibbs #10 Sales, LLC | $40,200 |
| Seasons Landscaping, LLC | $38,667 |
| Certified Auto Repair of New York Mills, Inc. | $36,250 |
| Huebsch Farms, Inc. | $32,360 |
| Hawes Septic Tank Pumping, LLC | $29,500 |
| Headquarters on Main, Inc. | $26,843 |
| Central Concrete Construction, LLC | $25,302 |
| Lisa Preuss | $25,000 |
| Kevin Dreyer | $23,854 |
| Dairyland Veterinary Service, Ltd. | $23,258 |
| Mills Locker Plant, Inc. | $23,170 |
| Backwoods BBQ, LLC | $22,900 |
| Torah Trucking, LLC | $21,300 |
| Russell Palubicki | $20,833 |
| Circle Ten Trucking, LLC | $20,800 |
| Vaughn Auto & Marine Company | $19,188 |
| Sewer Service | $18,860 |
| Eager Beaver Tree Service, LLC | $18,300 |
| Nym ARTS Retreat | $18,231 |
| Bank Builders, LLC | $16,465 |
| Raptor Machining, LLC | $15,282 |
| St. Peters Evangelical Lutheran Church | $14,500 |
| E & A Construction, LLC | $14,300 |
| Dj's Powerhouse, Inc. | $13,900 |
| Jared D. Huwe | $13,445 |
| West Central Draft, LLC | $13,252 |
| Mike's Lock & Key Service | $12,700 |
| Centennial Realty, LLC | $12,500 |
| Jeffery Vaughan | $12,200 |
| Kangas Construction | $11,500 |
| Scott R. Huwe | $10,866 |
| Impressions by Sarah | $10,289 |
| DK Express, LLC | $10,000 |
| Paul Klinnert | $9,873 |
| Ehnert Farms, Inc. | $9,700 |
| Apostolic Lutheran Church | $9,438 |
| Perala Auctions, Inc. | $9,400 |
| Snortum's Nursery and Landscaping, Inc. | $9,400 |
| Schik Electric, LLC | $9,318 |
| Dan's Towing & Repair | $8,333 |
| Larson Accounting Services, Inc. | $8,288 |
| Custom Manure Applicators | $8,286 |
| Justin Perry | $7,400 |
| Michaelangelo's Pizza, LLC | $6,625 |
| South Central Draft | $6,604 |
| Angels Touch Logistics | $5,979 |
| Mark Lausten Const., LLC | $5,800 |
| Hendrickx Brothers Farm Partners | $5,789 |
| Foamsensellc.com | $5,361 |
| Designs by Tes | $4,721 |
| Oakland Boat Repair | $4,631 |
| Thomas Mursu | $4,500 |
| FPRC Trucking, LLC | $4,400 |
| Cynthia Lien | $4,300 |
| Ronald Heinonen | $4,100 |
| Suns Up Salon | $4,040 |
| Brenda Doll | $3,700 |
| Wreck a Mended Paint & Body, Inc. | $2,707 |
| Tracy Weller | $2,401 |
| Isaiah Bauck | $2,345 |
| Monson Companies, Inc. | $2,300 |
| Otter Berry Farm, LLC | $2,100 |
| Norton Printing Company | $2,083 |
| Scott's Bait and Tackle | $1,844 |
| Gregory A. Huwe | $1,735 |
| Steve Steinbach Farms | $1,010 |
| Amanda M. Huwe | $543 |
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