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 50676
| Name of Borrower | Current Approved Amount |
|---|---|
| Figanbaum Trucking, Inc. | $278,900 |
| Tripoli Nursing and Rehab | $202,456 |
| Dick's Petroleum Company, Inc. | $143,300 |
| Neil A Jaschen | $55,200 |
| Johansen Siding, Inc. | $43,200 |
| GTP Farms, LLC | $35,752 |
| Steven D. Hennings | $30,244 |
| Robert Tonne | $26,402 |
| KC/elliot's Plumbing & Heating, LLC | $26,000 |
| Calvin Kuker | $25,312 |
| Terry J. Hennings | $20,800 |
| Advanced Foam Systems, LLC | $19,100 |
| Pavelec Construction, Inc. | $18,600 |
| Biermann Farms, Inc. | $18,400 |
| Schweer Repair | $18,300 |
| Ryan Moeller | $17,000 |
| Buls Farms and Trucking, LLC | $15,000 |
| David Kirchhoff | $14,800 |
| Kevin Luhring | $14,700 |
| Community Insurance of Tripoli | $13,000 |
| Tripoli Plumbing & Heating | $12,500 |
| Faith United Church of Christ | $11,500 |
| Isaiah Ball | $10,500 |
| Tripoli Area Recreation, Inc. | $7,900 |
| B&B Dairy, LLC | $7,800 |
| Ann Harms | $7,500 |
| P & P Excavating, Inc. | $7,500 |
| Andrew D. Schuldt | $7,300 |
| Brian Moeller | $5,800 |
| Page Heating & Air, Inc. | $5,700 |
| Nate Moeller Construction, LLC | $5,600 |
| Lawain Biermann | $5,300 |
| Lowell Biermann | $5,000 |
| Northeast Iowa Swine Consulting | $4,100 |
| Boevers & Boevers, Inc. | $3,200 |
| Branigan Bunce | $2,000 |
| Courtney Corolus | $1,843 |
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