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 56176
| Name of Borrower | Current Approved Amount |
|---|---|
| Seasons Healthcare of Trimont, Inc. | $282,000 |
| Gaalswyk Bros. Trucking, Inc. | $194,656 |
| Ritter Agent, Inc. | $72,000 |
| Stone Lake Farm, Inc. | $67,200 |
| Rabbe, Inc. | $64,500 |
| Traildust Trucking, Inc. | $60,200 |
| Town Center, Inc. | $40,005 |
| Moore Automation, Inc. | $35,720 |
| Dennis Carlson | $31,157 |
| Cory & Layne Ebeling Partnership | $31,078 |
| United Agtech, LLC | $30,200 |
| Cedar Run Pumping, LLC | $28,482 |
| The Evangelical Covenant Church of Trimont, Minnesota | $26,771 |
| Borntrager Auto Body & Towing | $26,557 |
| Thomas Peterson | $21,865 |
| Duane Russenberger | $20,832 |
| Randy Roth | $20,832 |
| Dean Sinn | $20,830 |
| Randy Wink | $20,830 |
| Donald Rudolph | $20,830 |
| Tracy Melson | $20,800 |
| Curtis Kuehl | $16,555 |
| Daniel Peterson | $15,542 |
| Troy C. Melson | $15,179 |
| Trimont Chiropractic, Acupuncture & Nutrition, PLLC | $14,300 |
| A & J Bros Trucking | $14,246 |
| Bruce Anderson | $14,081 |
| B & D Repair | $13,412 |
| Triple R Farms, Inc. | $12,672 |
| Josiah Ebeling | $11,548 |
| T. Peterson, Inc. | $11,145 |
| Trimont Locker, LLC | $11,000 |
| ELM Creek Acres, Inc. | $10,422 |
| First Evangelical Lutheran Church | $10,155 |
| Chad Winchester | $9,510 |
| Glidden Farms, Inc. | $8,200 |
| Anthony Peterson Farm, LLC | $8,036 |
| Tyler Morris | $7,000 |
| John Forstrom | $6,160 |
| Faber's Plumbing, LLC | $5,131 |
| Steve I. Olson | $4,890 |
| Cory Olson | $4,045 |
| Roderick Olson | $3,838 |
| Armbrust Acres, Inc. | $3,750 |
| Dale Burkhardt | $3,020 |
| Karla Geerdes | $2,726 |
| Jerry Ploehn | $2,675 |
| Theresa Peterson Accounting | $2,210 |
| David P. Honnette | $1,996 |
| Benjamin Brolsma | $1,350 |
| Rhonda Potts | $1,172 |
| Heavenly Rose Healing Center | $1,159 |
| Travis & Briana Swanson | $909 |
| Joel Sinn | $550 |
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