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Tuesday, November 5, 2024

2020: 36 PPP loans provided to small businesses in ZIP Code 56579

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There were 36 PPP loans provided to small businesses in 2020 in ZIP Code 56579, according to the US Small Business Administration.

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 56579

Name of BorrowerCurrent Approved Amount
West Central Petroleum Services, Inc.$146,287
Lightspeed Electric, LLC$117,010
Damart Turkeys, Inc.$94,300
Galaxy Enterprises, LLC$92,425
Trosvik, Inc.$40,800
New Life Lutheran Church of Rothsay$36,935
Daniel Solum$31,980
Norman Brothers$27,450
Lindberg Motors, LLC$22,834
Larson Farms Since 1871 Family, LLLP$22,500
Allison M. Berg$20,130
Brenden Farms General Partnership$20,005
CK Haugen Trucking, LLC$19,600
Haarstad Family Farms, LLC$18,202
Haugrud Farms, Inc.$16,570
Benjamin Sytsma Woodworks$16,400
Stone Castle Farms, LLC$14,835
Seidler, Inc.$14,300
DDC, Inc.$13,390
David Simmer$12,825
Evelo, Inc.$11,600
Priority Real Estate, LLC$11,545
Haick Transport$10,890
Tina West$8,727
Metal Dynamics, LLC$8,637
Paul Haarstad Excavating, LLC$8,337
Diavik Express, LLC$8,205
Trustee Seed, LLC$7,500
5R Trucking, LLC$6,800
Ryanz Tile, LLC$6,716
Matthew Carrillo$6,200
Mike Nelson$6,155
Cary Danielson$4,800
Lindholm, Ltd.$3,800
Justin Phillips$1,895
Karen Phillips$1,487

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