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 50675
| Name of Borrower | Current Approved Amount |
|---|---|
| Traer Nursing Care Center, Inc. | $578,900 |
| Randolph's, Inc. | $393,000 |
| Siemens Trucking, Inc. | $254,465 |
| Clearline Cutlery Manufacturing | $138,300 |
| Rubline Marketing, LLC | $97,700 |
| Clearline Industries, LLC | $95,400 |
| North Tama Veterinary Clinic | $89,604 |
| Whannel's Hardware and Cellular, LLC | $81,900 |
| Awe Service & Alignment, Inc. | $59,100 |
| L. L Owens & G. W. Rottler, Inc. | $54,200 |
| R & S Logistics, Inc. | $51,243 |
| Morris Insurance Agency, Inc. | $48,000 |
| Hometown Foods, Ltd. | $44,500 |
| Traer Chiropractic, LLC | $41,465 |
| Cooper Farms, Inc. | $38,915 |
| Pied Piper Pre-School of Traer, Inc. | $37,880 |
| Higgins Oakcrest Farms, Inc. | $30,200 |
| Boerm Farms, Inc. | $29,000 |
| Gene Rund | $28,300 |
| Dallas D. Tomlinson | $24,900 |
| Mark W. Tomlinson | $24,600 |
| Champion Enterprises, LLC | $23,700 |
| Lechtenberg Law Office, LLC | $22,000 |
| Kopriva Agent, LLC | $20,800 |
| David Boldt | $20,800 |
| Wendt 4, LLC | $19,400 |
| Jan R. Cooper | $19,230 |
| True Builders | $17,100 |
| St. Mary's Church-Eagle Center, Iowa | $16,700 |
| Rundel Corporation | $16,200 |
| Thunderbird Farms, Inc. | $16,000 |
| Douglas Hefty | $15,300 |
| Dennis R. Stoakes | $14,300 |
| Tim Ewoldt, Inc. | $14,000 |
| Lisa Marie Eikamp | $13,222 |
| Traer United Presbyterian Church | $13,200 |
| Dennis Wilson | $12,800 |
| Josh Ewoldt Farms | $11,456 |
| Appraisal & Real Estate Services | $11,378 |
| Waller Racing, LLC | $11,300 |
| Richard Ruzicka | $11,200 |
| Traer Golf and Country Club | $10,800 |
| Farm to Flame Bar & Grill, LLC | $10,400 |
| John Robert Kostlan | $9,800 |
| Traer United Methodist Church | $8,700 |
| Dostal Farms, Inc. | $7,000 |
| James A. Sebetka | $6,900 |
| Jon Kahler | $6,198 |
| Michael Calderwood | $5,900 |
| Conner Roy | $5,700 |
| Boldt Auctioneering Company | $4,800 |
| Hunter Danker | $4,600 |
| Mark Wilson | $3,690 |
| Podhajsky Farms, Inc. | $3,300 |
| John J. Schrier | $3,000 |
| Barry D. Eggers | $2,800 |
| Wind Up Lounge, Inc. | $2,800 |
| Berger Family Farms | $2,700 |
| A Wild Hair Too | $2,679 |
| Christy Calderwood | $2,600 |
| Joesph Kvidera | $2,200 |
| Berger Family Trucking, LLC | $2,200 |
| Christy Bradley | $2,100 |
| Clayton S. Vogeler | $2,000 |
| Kendall W. Staker | $2,000 |
| Gene Staker | $1,800 |
| Reumans Clothing | $1,700 |
| Karina's Barbershop | $1,400 |
| Bears Trucking, Inc. | $1,202 |
| Jeffrey Hoeg | $800 |
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