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 51355
| Name of Borrower | Current Approved Amount |
|---|---|
| Parks Marina, Inc. | $788,000 |
| Mau Marine, Inc. | $456,400 |
| Okoboji Barz, Inc. | $376,800 |
| Okoboji Winter Project, Inc. | $267,300 |
| Maynard J Smith Mobile Homes & Rv's Limited | $134,900 |
| Brooks Management, LLC | $95,500 |
| Underground NRG, LLC | $91,400 |
| Okoboji Commons Hotel, LLC | $87,200 |
| My Skin Clinics, PLC | $84,300 |
| Snook's Carpet and Furniture of Okoboji | $82,885 |
| Pearson Lakes ART Center | $71,300 |
| Kae L. Hoppe Revocable Trust | $62,200 |
| K&K Masonry, Inc. | $59,657 |
| Dulin Contracting, Inc. | $56,000 |
| Good News Community Church | $52,000 |
| Okoboji Skin Care, Inc. | $48,345 |
| TWT Investments, LLC | $45,300 |
| Ingvall Real Estate Team, LLC | $39,600 |
| The Maynard J. Smith Mobile Park Corporation | $37,700 |
| C & W Docks, LLC | $37,400 |
| Barn Swallow | $34,100 |
| Kooima Lakes Service, Inc. | $33,200 |
| Jeffrey Berkland | $29,800 |
| Okoboji Realty, LLC | $29,200 |
| Cyclone Staffing Solutions, Inc. | $28,500 |
| Elegance Boutique, Inc. | $27,553 |
| Wymans Spudnutz, LLC | $25,200 |
| Vintage Block, LLC | $24,800 |
| Deberg Concrete, Inc. | $23,524 |
| Simonson Properties, Inc. | $21,100 |
| George Roy Koenig | $20,800 |
| Jon Ingvall | $18,962 |
| Summer Stock, LLC | $18,700 |
| SS Docks, LLC | $18,200 |
| Secure Benefits Systems Corporation | $18,200 |
| Lammers Family Chiropractic, PC | $16,800 |
| Huseman Enterprises, Inc. | $16,500 |
| Quality Home Care, LLC | $12,647 |
| Graham Agent Consulting, LLC | $12,500 |
| The Extra Touch, Inc. | $11,800 |
| Jodi Wollmuth | $10,634 |
| Steven Ingvall | $10,122 |
| Laven Paint and Design, Inc. | $9,500 |
| Brett Copeland | $8,600 |
| Chalstrom Beach Plantation Homeowner's Association | $8,200 |
| Welter Construction, LLC | $8,000 |
| Stauss Realty, LLC | $8,000 |
| Bella Via Salon & Day Spa | $7,800 |
| Morgan Wunschel | $7,700 |
| IN Home Fitness Solutions, LLC | $7,500 |
| Okoboji Massage | $7,000 |
| Nicholas Bjornstad | $6,800 |
| Sarah Vandehoef | $6,600 |
| Ranch Okoboji, LLC | $6,500 |
| Bradley Meyer | $6,032 |
| Brooke Stecker | $5,300 |
| Murphy's of Okoboji, Inc. | $3,400 |
| Acme Lakes Service, LLC | $2,700 |
| Christopher A. Bjornstad | $2,700 |
| Caitlin Haning | $2,254 |
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