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 58788
| Name of Borrower | Current Approved Amount |
|---|---|
| Sandhills Dairy, LLP | $195,300 |
| Gunter Honey, Inc. | $140,556 |
| Northern Plains Feeders, LLP | $73,300 |
| Jonas Heyl | $58,500 |
| Mike's Body, Paint, & Glass, Inc. | $49,100 |
| Towner Animal Health Clinic, P.C. | $45,000 |
| Robert Jaeger | $41,500 |
| Frey Livestock Sales & Service, Inc. | $28,980 |
| White Rock Express, LLC | $28,100 |
| Childress Insurance, Inc. | $27,000 |
| Neil Schell | $20,833 |
| Follman Consulting, Inc. | $20,800 |
| Jdm Schmitt Concrete | $19,700 |
| Kurt Kramer | $18,564 |
| Schell Grain & Livestock JV | $16,697 |
| Towner Hardware Hank, Inc. | $15,140 |
| Richard Berndt | $15,000 |
| Ryan Latendresse | $14,700 |
| J & J Market, LLC | $14,500 |
| Wayne Latendresse | $14,200 |
| Rafter Bar | $13,260 |
| Dan Miller Trucking Company | $12,970 |
| Era, LLLP | $12,435 |
| Randy Oppen | $12,400 |
| Horizon Agent Services | $12,200 |
| William Kuntz | $12,100 |
| Align Chiropractic, PC | $11,500 |
| TRI Parish | $10,925 |
| Darrel Rice | $7,403 |
| Robert McCombs | $7,142 |
| Seright Construction, LLC | $6,900 |
| Kendall Brandt | $6,900 |
| Towner Pluming & Heating | $6,800 |
| Shawn Kramer | $5,830 |
| Eric Lashman | $5,449 |
| Reed Kramer | $5,285 |
| K&M Salvage | $4,131 |
| Robert Stigen | $3,680 |
| Presbyterian Church of Towner | $2,700 |
| Christopher J. Jorde | $2,555 |
| Hair by Emma | $2,292 |
| Zion Luthern Church | $1,550 |
| Melissa Kramer | $655 |
Alerts Sign-up