There were 41 PPP loans issued in Minnesota during the week ending May 31. The average loan size in the state was between $150,000 to 350,000.
There are approximately five million approved PPP loans with a total of $517,451,965,102 set aside for funding, according to the Small Business Administration. The average loan size was around $105,000 with over 5,000 lenders currently participating in the program.
The program was slow to get off the ground when it was crushed by an onslaught of would-be applicants. Another major criticism of the program pertained to who was receiving the loans. A program that was meant for small businesses witnessed the Los Angeles Lakers receive $4.6 million from the program. The Lakers qualified for the program under the rules as written but returned the funds according to a Laker’s statement provided to news outlets.
| Recipients | Date Received | Dollar Amount Received |
|---|---|---|
| Cedar Management, Inc. | 2020-05-26 | $350,000-1 million |
| Liv Salon & Spa, Inc. | 2020-05-26 | $350,000-1 million |
| Staffing 101 Company | 2020-05-26 | $350,000-1 million |
| Thompson Tool & Die, Inc. | 2020-05-26 | $350,000-1 million |
| Care Plus HHA, Inc. | 2020-05-26 | $150,000-350,000 |
| EWC1, LLC | 2020-05-26 | $150,000-350,000 |
| Hidden Pines Camp, LLC | 2020-05-26 | $150,000-350,000 |
| Squared C Holdings, Inc. | 2020-05-26 | $150,000-350,000 |
| Bellecour, LLC | 2020-05-27 | $350,000-1 million |
| CP Chaska, Inc. | 2020-05-27 | $350,000-1 million |
| Golden Valley Opco, LLC | 2020-05-27 | $350,000-1 million |
| Soigne Hospitality, LLC | 2020-05-27 | $350,000-1 million |
| St. Louis Park Opco II, LLC | 2020-05-27 | $350,000-1 million |
| St. Louis Park Opco, LLC | 2020-05-27 | $350,000-1 million |
| The Villa at Bryn Mawr, LLC | 2020-05-27 | $350,000-1 million |
| The Villa at Osseo, LLC | 2020-05-27 | $350,000-1 million |
| Demi 212, LLC | 2020-05-27 | $150,000-350,000 |
| Food Staffing Services | 2020-05-27 | $150,000-350,000 |
| Forest Lake Restaurant, Inc. | 2020-05-27 | $150,000-350,000 |
| LA Grande Salon, Ltd. | 2020-05-27 | $150,000-350,000 |
| Lake & Hiawatha, Inc. | 2020-05-27 | $150,000-350,000 |
| Lucky Cricket West END, LLC | 2020-05-27 | $150,000-350,000 |
| Minnesota Professional Nursing Services, Inc. | 2020-05-27 | $150,000-350,000 |
| Minority Owned Insulation & Drywall, Inc. | 2020-05-27 | $150,000-350,000 |
| Riverview Services, Inc. | 2020-05-27 | $150,000-350,000 |
| Anderson Custom Processing, Inc. | 2020-05-28 | $1-2 million |
| Cliff It Solutions, LLC | 2020-05-28 | $350,000-1 million |
| Atrix International, Inc. | 2020-05-28 | $150,000-350,000 |
| Diversified Ventures of Worthington, LLC | 2020-05-28 | $150,000-350,000 |
| Twin Cities Homecare Services, LLC | 2020-05-28 | $150,000-350,000 |
| United Scientific, Inc. | 2020-05-28 | $150,000-350,000 |
| Wiederholts Supper Club, Inc. | 2020-05-28 | $150,000-350,000 |
| Christopher & Banks Corporation | 2020-05-29 | $5-10 million |
| Accessible Space, Inc. | 2020-05-29 | $1-2 million |
| Qoraxey Home Care, Inc. | 2020-05-29 | $350,000-1 million |
| A & E Construction Supply, Inc. | 2020-05-29 | $150,000-350,000 |
| Paladin Career and Technical High School | 2020-05-29 | $150,000-350,000 |
| Riesgraf's Installation Company, Inc. | 2020-05-29 | $150,000-350,000 |
| Stepping out, Inc. | 2020-05-29 | $150,000-350,000 |
| Sun Homes Health Care, Inc. | 2020-05-29 | $150,000-350,000 |
| Tuan's Auto Repair | 2020-05-29 | $150,000-350,000 |
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