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 57279
| Name of Borrower | Current Approved Amount |
|---|---|
| Whetstone Agent Supply, Inc. | $106,400 |
| Route 15 Body Works, Inc. | $70,400 |
| Renelt Brothers Farms | $59,600 |
| Wilmot Lumberyard, Inc. | $52,500 |
| David R. Hansen | $45,289 |
| Jurgens Oil Company | $40,200 |
| Wilmot Plumbing, Inc. | $35,500 |
| Olson Millwright Services, LLC | $30,300 |
| Aaron Kent Frerichs | $24,546 |
| Jesse Cameron | $23,900 |
| Steven Ray Minder | $22,692 |
| JS Seed Solutions, Inc. | $21,600 |
| Jason Frerichs | $20,833 |
| Conrad Trucking | $20,832 |
| Keith Block | $20,800 |
| Darren Leslie Strasser | $17,900 |
| Charles Floro | $16,200 |
| Becky Harstad | $15,600 |
| Heartland Agent Services, LLC | $15,400 |
| Charles Heinje | $14,700 |
| Wilmot Community Foundation | $14,600 |
| Jeans Bridal II, LLC | $14,400 |
| Robert Sandbakken | $13,100 |
| Delton Leslie Strasser | $11,800 |
| Huff Construction | $11,800 |
| Hopkins for Hire, Inc. | $11,200 |
| New Application | $10,600 |
| Vancleve Farm, Inc. | $10,300 |
| Grant Remily Construction, LLC | $9,600 |
| Reil Truck and Farm Repair | $8,400 |
| Gibson Insurance, LLC | $8,145 |
| Travis Lee Strasser | $6,900 |
| Valley Crop Solutions, Inc. | $6,200 |
| Bitter Lake Lodge, LLC | $5,600 |
| Bryce Heinje | $5,200 |
| Lewandowski Construction, LLC | $3,800 |
| K & B Trucking | $3,500 |
| Ronda Hanson | $3,410 |
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