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 56580
| Name of Borrower | Current Approved Amount |
|---|---|
| Fitzgerald Construction, Inc. | $217,500 |
| High Power Crane, Inc. | $120,500 |
| Reichhardt Electronic Innovations, Inc. | $76,280 |
| Spaeth Cleaning | $55,600 |
| James W. Baker | $40,435 |
| D2J Enterprises, Inc. | $37,600 |
| Rodney Schmidt | $31,800 |
| Krabbenhoft & Sons, Inc. | $30,402 |
| Dennis's Floor Covering Services, Inc. | $30,100 |
| Prairie's Edge Agri-Service, Inc. | $28,400 |
| Paul Anderson | $28,110 |
| Trinity Lutheran Church Sabin | $28,100 |
| Andrew Leedahl | $28,082 |
| John J. Ready | $27,398 |
| 218 Construction, LLC | $25,800 |
| Blane Benedict Farms | $24,045 |
| PJK Consulting, LLC | $17,700 |
| Bryan Kritzberger | $13,900 |
| CK Accounting, LLC | $10,637 |
| Change Is Good, Inc. | $10,000 |
| FM Handyman Services, LLC | $8,400 |
| Casey Jo's Catering, Inc. | $8,100 |
| Leroux Logistics, LLC | $6,191 |
| Bethanne Weltmer | $6,072 |
| Richs Collision | $5,000 |
| Randy Schmidt | $3,700 |
| Blane Benedict Farm Consulting & Management, LLC | $3,300 |
| Brock Robertson | $2,382 |
| Zane Jacobson | $2,100 |
| Cutting Edge Exteriors, LLC | $1,353 |
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