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 56571
| Name of Borrower | Current Approved Amount |
|---|---|
| Carrs Tree Service, Inc. | $2,288,200 |
| Thumper Pond Resort, LLC | $325,400 |
| Ottertail Aggregate, Inc. | $230,600 |
| Precision Landscape and Irrigation, LLC | $104,100 |
| Oscal, Inc. | $98,000 |
| Dreyer Dairy Farm | $86,694 |
| All Seasons Heating & Air Conditioning, LLC | $82,100 |
| R & R Feeds | $75,400 |
| Carr Enterprises, Inc. | $75,100 |
| Woodshed Bar & Grill, LLC | $67,300 |
| Mid-Central Ice, LLC | $59,600 |
| Becker Optometry, PC | $59,300 |
| Periwinkle Place, Inc. | $41,200 |
| Safe Step | $40,200 |
| Fraki Dairy Farm, Inc. | $36,600 |
| Michael Menze | $36,500 |
| Justin Malone | $32,600 |
| Ottertail Lions Club | $30,700 |
| Ottertail Cabinet Company, Inc. | $28,400 |
| Jason P. Davis | $26,000 |
| Dan's Honey Company | $25,800 |
| Betty's Pantry, LLC | $25,100 |
| Lakeview Trust & Estate Law, PLLC | $23,600 |
| Ottertail Liquors, LLC | $22,000 |
| Petes Auto Body, LLC | $21,600 |
| Braaten, Ltd. | $20,300 |
| Geodirect Supply, Inc. | $19,200 |
| Haugan Cleaning Services, LLC | $18,100 |
| Silver Dust Farm, LLC | $15,600 |
| Voltedge Electric, LLC | $14,200 |
| Ottertail Bakery | $13,800 |
| Duwayne Lowell Thalmann | $13,089 |
| Cold Country, LLC | $12,800 |
| Ottertail Marine Service and Storage | $11,400 |
| Lueders Farms, Inc. | $10,000 |
| Battle Lake Refrigeration, Heating & Cooling | $9,400 |
| Haugan Heating & Cooling, LLC | $7,177 |
| Amy Mindermann | $6,500 |
| Leo Firtz Trucking | $6,400 |
| Scotty's Tires, LLC | $6,200 |
| Bladow Beach Resort and Campground, LLC | $5,400 |
| Shiloh Studios, LLC | $5,200 |
| Jakes Johns, LLC | $4,200 |
| Wendy A. Billie | $4,000 |
| Williams Company, LLC | $3,300 |
| Tim Lammers Masonry | $3,100 |
| Carney Outdoors, Inc. | $2,700 |
| Lake Country Concessions, LLC | $2,500 |
| Roger A. Krause | $2,100 |
| Grass Roots Plants Ceg | $2,000 |
| New Wave of Ottertail | $1,300 |
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