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 58425
| Name of Borrower | Current Approved Amount |
|---|---|
| Sheyenne Tooling & Manufacturi | $666,661 |
| Cooperstown Medical Center | $563,910 |
| Posi-Lock Puller, Inc. | $531,032 |
| Griggs County Care Center | $494,507 |
| Right-a-Way Applicators, Inc. | $424,200 |
| Aerial Timber Applicators, Inc. | $235,000 |
| Cooperstown Implement Company, Inc. | $150,600 |
| Abraham Generator Sales Company | $132,700 |
| Reiten, Inc. | $84,300 |
| Christian Automotive Group, Inc. | $82,585 |
| Miller's Super Markets, Inc. | $74,400 |
| Cooperstown Veterinary Clinic, Ltd. | $69,755 |
| Erickson Agent Advantage, Inc. | $58,500 |
| Brager Disposal Service, Inc. | $53,471 |
| Agrisales, Inc. | $50,600 |
| Coachman | $40,290 |
| The Cooperstown Bible Camp Association of the Evangelical FR | $34,700 |
| Timothy Soma | $33,958 |
| Cooperstown Community Activities Authority | $33,800 |
| Gary Heyerdahl | $30,132 |
| Daniel Heinz | $28,982 |
| Norman Tafelmeyer Ranch | $26,960 |
| Gronneberg Farms | $26,557 |
| Scott Liljenquist | $25,777 |
| Endre Aarestad | $25,030 |
| Cooperstown Hardware, LLC | $22,800 |
| Agricede, Inc. | $22,400 |
| Trinity Lutheran Church of Cooperstown | $21,400 |
| Cooperstown Pizza Ranch | $21,320 |
| Casper Aarestad Jr. | $20,832 |
| Bruce Hazard | $20,832 |
| Big Mugs Trucking | $18,802 |
| Dirt Pro, LLC | $16,300 |
| K&J Flooring, LLC | $15,680 |
| Cornerstone Community Church | $15,415 |
| Randy Ressler | $14,870 |
| BBLLMK | $13,852 |
| Karsten Nevland | $13,492 |
| H. E. Everson Company of Cooperstown, Inc. | $12,445 |
| Frost Bite, LLC | $11,572 |
| Adam Larson | $11,281 |
| Corner Service and Cafe, Inc. | $10,600 |
| Body Focus Theraputic Massage Clinic | $9,960 |
| Hometown Service Center, LLC | $9,526 |
| Ellefson Sales and Excavating, LLC | $9,400 |
| Ressler Land and Cattle | $8,317 |
| Aarestad Realty, LLC | $7,802 |
| The Fish Bowl | $7,677 |
| Dakota Clipper Salon, LLC | $7,500 |
| Arto Farms | $7,342 |
| Grant Hedstrom | $7,172 |
| Lumber Mart | $6,507 |
| Murray Stokka | $6,267 |
| Todd Edland | $5,185 |
| Bradley Dewald | $4,800 |
| Hanson's Electric | $4,617 |
| Nathan Hazard | $4,122 |
| Cooperstown Plumbing and Wells, LLC | $3,250 |
| Kenninger Lawn Care, LLC | $3,249 |
| Griggs County Community Youth Project | $2,852 |
| Low Voltage Control Systems, Inc. | $2,375 |
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