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 51461
| Name of Borrower | Current Approved Amount |
|---|---|
| Reliance Construction of Iowa, Inc. | $383,000 |
| Bedrock Concrete Products, LLC | $319,425 |
| Krohnke Construction, Inc. | $159,200 |
| Bedrock and Sons, LLC | $95,633 |
| Bedrock Readymix, Inc. | $94,214 |
| Bedrock Gravel, Inc. | $84,175 |
| Samha Foods Company, LLC | $73,898 |
| Heiden Concrete, Inc. | $67,000 |
| Farmers Mutual Insurance Association | $46,700 |
| Kragel Bros | $41,600 |
| Immanuel Evangelical Lutheran Church | $33,300 |
| John Hennings | $33,000 |
| Chad M. Petersen & Danae J. Petersen | $31,200 |
| Derick and Amanda Bruhn | $27,200 |
| Neal Nahnsen | $25,300 |
| Premier Agent Supply, LLC | $23,300 |
| United Church of Christ, Schleswig, Iowa | $22,500 |
| Scott A. Korner | $21,917 |
| Craig Johannsen | $21,600 |
| Tanner B. Schultz | $20,833 |
| Jeremy Paulsen | $20,833 |
| Curtis Korner | $20,833 |
| Tony Hauser | $20,800 |
| James J. Sailer | $20,800 |
| Vennepp, P.C. | $18,500 |
| Big Crop Transfer, LLC | $15,800 |
| Darwin Rohlk | $15,700 |
| Michael Hargens | $15,582 |
| Schneider Electric, LLC | $15,300 |
| Zachary Bielenberg | $13,300 |
| Martin J. Bahnsen | $12,962 |
| Farmers Mutual Direct Agency, Inc. | $12,500 |
| Gordon Quandt | $12,000 |
| 3 of a Kind Xpress Schleswig, Iowa, Inc. | $11,700 |
| Demand, LLC | $11,000 |
| Martin Knudsen | $10,100 |
| Iowa Engineered Concrete Products | $8,362 |
| Verdean Gierstorf | $8,300 |
| Mitchell Struck | $7,400 |
| Paul Outhouse | $7,200 |
| Aaron Schultz | $6,800 |
| Steven L. Struck | $6,800 |
| The Chrome Spur, LLC | $6,500 |
| Troy Price | $5,600 |
| Ja Wiebers Farms, Inc. | $5,000 |
| Rocky Ellerbeck Trucking, Inc. | $3,875 |
| Kragel Farm Corporation | $3,100 |
| Bolillo Trucking, Inc. | $2,800 |
| Leroy W. Hight | $2,500 |
| Paulsen Farms | $2,220 |
| Delbert Clausen | $1,900 |
| Christene Pridie | $1,700 |
| JP and LJ Jepsen Farm | $1,100 |
| Cal Kastner | $400 |
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