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 57441
| Name of Borrower | Current Approved Amount |
|---|---|
| JNS Trucking, Inc. | $321,310 |
| Richland Farms, Inc. | $48,520 |
| CWF Masonry & Construction, Inc. | $44,972 |
| Frederick Farmers Elevator Cooperatrive | $42,510 |
| Frederick Seed, LLC | $42,186 |
| Bretsch Farms, Inc. | $36,745 |
| Mikkonen Land Corporation | $36,388 |
| JM Electric, Inc. | $36,250 |
| T and K Cattle Company, Inc. | $23,756 |
| Ronald Dutenhoffer | $22,500 |
| Cox Trucking | $18,941 |
| Randy Bretsch | $17,739 |
| HI-Line INN & Suites, Inc. | $17,500 |
| Richard Schlosser Farm | $17,454 |
| David Bretsch Farm | $17,225 |
| Daniel Cutler | $16,479 |
| Eugene Olson | $14,697 |
| Gappa Electric, LLC | $14,500 |
| Dillon Cutler Ranch | $14,351 |
| JHC Services, LLC | $13,896 |
| Frederick Vet Clinic | $13,624 |
| Jordan Engelhart Farms | $13,310 |
| JNS Heavy Duty Truck & Automotive Center, Inc. | $13,308 |
| Gary Kopetsky Farm | $11,476 |
| Burns Taxidermy Studio | $11,000 |
| Nickelson Farms, Inc. | $10,925 |
| Ross Ulmer | $9,800 |
| Ty Edwards | $9,210 |
| Community Store, Inc. | $8,776 |
| St. Paul's Lutheran Church | $7,565 |
| Dakotafire Media, LLC | $6,509 |
| Alex Bretsch Farm | $4,793 |
| Dale Geffre Construction | $4,409 |
| Derik Bretsch Farm | $4,100 |
| Titans Bar and Grill, Inc. | $3,877 |
| Brad Hart Farm | $2,811 |
| Alex Hart Farm | $2,801 |
| Buzy Beez Preschool | $1,969 |
| MJ Dance Studio | $1,619 |
| Frederick Development Corporation | $1,000 |
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