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 56586
| Name of Borrower | Current Approved Amount |
|---|---|
| Brian's Repair, Inc. | $134,300 |
| Underwood Oil, Inc. | $110,785 |
| Outdoor Renovations Landscape & Nursery, Inc. | $80,370 |
| Lyndon Thompson | $43,140 |
| Michael Johansen | $36,500 |
| Leisuretime, Ltd. | $34,000 |
| Scott Davis Services | $26,900 |
| 4mations Landscape and Design, Inc. | $26,331 |
| Mark Schoening | $26,280 |
| Sverdrup Mutual Insurance Company | $23,912 |
| Tree Trimmers, LLC | $23,041 |
| Daniel Pederson | $20,832 |
| Pamela Pederson | $20,832 |
| Scott Lee | $20,832 |
| Scott Rocholl | $20,832 |
| Troy Rubink | $20,832 |
| Herman Rubink | $20,832 |
| Johansen Turkeys, LLC | $20,832 |
| Allen Lee | $20,832 |
| Pointe Construction, Inc. | $20,800 |
| Richard Swiontek | $20,005 |
| Reno Wizards, Inc. | $20,000 |
| George Bergem American Legion Post 489 | $18,350 |
| Adam Fronning | $16,123 |
| 1st Choice Tree Care, LLC | $15,800 |
| Tordenskjold Free Lutheran Church | $13,705 |
| NK Construction of Underwood, Inc. | $13,525 |
| Independent Contract Services of Fergus Falls, LLC | $12,825 |
| Samuelson Plumbing, Inc. | $12,500 |
| Messiah Lutheran Church | $11,755 |
| Jacob Risbrudt | $10,920 |
| Under Mart, Inc. | $10,650 |
| Lafond Construction Services Company | $9,500 |
| Brooke Jacobson Stylist, Inc. | $6,526 |
| Charles Will | $6,420 |
| Budke Farms, Inc. | $5,830 |
| DRN Farms, Inc. | $4,300 |
| Collins Lawn Care & Landscaping, Inc. | $3,905 |
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