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 58274
| Name of Borrower | Current Approved Amount |
|---|---|
| Farmers Union Oil Company | $168,300 |
| Thykeson Farms, Inc. | $51,942 |
| AMB Brothers Feed and Grain | $40,300 |
| Steve Fugleberg | $34,340 |
| Jason Strand | $32,600 |
| Lance Fugleberg | $32,185 |
| Matthew Strand | $30,600 |
| Riverbend Agronomy, LLC | $29,500 |
| Parnell Amb Farms | $29,500 |
| Kory Domier | $28,278 |
| Jeff's Electric, Inc. | $28,200 |
| AMB Farms, Inc. | $23,500 |
| Corey Hsnson | $21,300 |
| Greg Thykeson | $20,833 |
| Keith Knudsvig | $20,833 |
| Brian Grandalen | $20,800 |
| Randall Eide | $20,800 |
| Dennis Rindy | $20,800 |
| Matthew Grandalen | $20,800 |
| Jay Anderson | $20,800 |
| Shannon Bergstrom | $20,800 |
| Lyle Grandalen | $20,800 |
| Ross Bradley Thykeson | $15,882 |
| Aurdal Norwegian Evangelical Lutheran Congregation | $15,600 |
| LCJ, Inc. | $14,100 |
| Justin Knudson | $12,785 |
| AK Diesel Performance & Tuning, LLC | $12,760 |
| Jay & Peter Haugen Partnership | $12,600 |
| Christianson Farm & Construction, Inc. | $12,500 |
| Perry Norwegian Evangelical Church of Primrose | $11,500 |
| Haugen Equipment, Inc. | $11,400 |
| AMB & Sons Excavating, LLC | $9,700 |
| N & N Express, Incorporated | $9,583 |
| James A. Holkesvig | $8,900 |
| N & N Farms, Inc. | $8,665 |
| Milo Braaten | $8,426 |
| Neil Halvorson | $7,763 |
| Olson Tax Service | $7,560 |
| Robert UST Farm | $7,500 |
| DCH Construction | $7,028 |
| LH Construction, Inc. | $6,900 |
| K. M. Nickelsen, Inc. | $6,300 |
| Mayport Multipurpose Community Event Center | $5,625 |
| Gardiner Plastering, LLC | $5,390 |
| Don Satrom Farm | $5,100 |
| Renae Basol | $4,500 |
| Braaten Trucking and Grain Company, Inc. | $3,125 |
| Chad Nelson | $3,100 |
| Sliding Stop Ranch, LLC | $2,300 |
| James Leland Trackhoe Jr. | $2,000 |
| Carolyn A. Knudson | $1,200 |
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