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 57454
| Name of Borrower | Current Approved Amount |
|---|---|
| KSP Farms, Inc. | $62,347 |
| County Line Seed, Inc. | $52,934 |
| Damar Farmers Elevator | $41,400 |
| Donnell L. And Roy L. Ogren | $41,200 |
| Sjovall Feedyard, Inc. | $37,700 |
| Malm & Cole Farms, Inc. | $31,822 |
| Fagerland Construction, LLP | $30,400 |
| Langford Lumber Company, Inc. | $26,800 |
| DJS Farms Partnership | $20,832 |
| The Front Porch Bar and Grill | $18,000 |
| Cory Cole Farms, Inc. | $16,000 |
| David Olson | $15,500 |
| Paul S Price | $13,500 |
| Distinctly Drey, LLC | $12,200 |
| Hewitt Insurance Agency, Inc. | $9,900 |
| Keith Ogren | $9,300 |
| Justin E. Deutsch | $8,400 |
| Keith Jensen Trucking, Inc. | $6,500 |
| Andrea Ronshaugen | $5,670 |
| Jeffrey J. Roehr | $5,500 |
| Daniel Ogren | $5,300 |
| Kaleb Pitkin | $4,200 |
| Patricia West | $3,400 |
| Leslie Erickson | $2,000 |
| Charlene K. Erickson | $2,000 |
| Arlan Carlson Construction | $1,000 |
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