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 57434
| Name of Borrower | Current Approved Amount |
|---|---|
| Hanlon Bros Partnership | $93,700 |
| Independent Agent Services | $81,300 |
| R&B Mielke | $72,200 |
| Horace Walter | $47,417 |
| Craig M. Dunker | $36,845 |
| Arlin Zoellner | $30,500 |
| William V. Hearnen | $29,167 |
| DRY Run Farms, Inc. | $25,500 |
| Coteau View Hunts & Kennels | $25,300 |
| No Limits Soil Services, LLC | $24,800 |
| James Patterson | $22,700 |
| Henjum Crop Service | $21,400 |
| Dwight Lyren Farm | $20,833 |
| Patrick M. Kramp | $20,832 |
| Kyle Henjum | $20,800 |
| Greg Bonn | $18,483 |
| Todd Osterman | $17,400 |
| Schaller Farms Incorporated | $15,729 |
| Chad Hearnen, Inc. | $14,400 |
| JH Trucking, LLC | $14,300 |
| Tim Fliehs | $14,300 |
| Bette Worlie Farm | $14,245 |
| Ronald Worlie Farm | $14,245 |
| Miles Harvesting, LLC | $13,400 |
| Ball Farms, Inc. | $12,400 |
| Don Hearnen | $10,600 |
| Randy Hausvik Farm | $10,428 |
| NGS Trucking | $10,100 |
| Monson Trucking | $9,800 |
| Jason McComsey | $9,600 |
| Anthony Lyren Farm | $9,443 |
| David Kramp | $9,400 |
| Derek Miles | $9,300 |
| C&L Hearnen | $8,700 |
| Peggy Fliehs | $8,300 |
| Daelyn Dirksen Farm | $8,200 |
| Joseph Henjum | $7,800 |
| Alan Townsend | $7,707 |
| Michelle Clemensen | $7,557 |
| Clinton Van Hatten | $7,500 |
| Joel Bindenagel | $4,785 |
| Charles Boynton | $4,200 |
| Loren a Smith Farm | $3,000 |
| East Area Publishing | $2,675 |
| Leslie Bruckner | $2,438 |
| Troy Grandpre | $2,000 |
| Alex Lyren Farm | $1,370 |
| Ronald Dobberpuhl | $1,300 |
| Dylan Miles Farm | $1,170 |
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