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Thursday, November 7, 2024

PPP loans: 11 loans in 2020 in ZIP Code 58581

Innovation

There were 11 PPP loans provided to small businesses in 2020 in ZIP Code 58581, according to the US Small Business Administration.

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 58581

Name of BorrowerCurrent Approved Amount
Schumacher Farms, LLP$28,381
Myron Weigel$23,316
Ronald Engelhart Farm$20,800
Curtis Meidinger$20,100
Peggy Meidinger, LLC$13,700
Justin Engelhart$8,533
Zeeland Oil, LLC$7,300
Mile Inn$5,600
Zion Evangelical Lutheran Church$5,246
Ordeen Ebel$4,891
Kim's Gourmet Shop, LLC$2,853

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