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 50680
| Name of Borrower | Current Approved Amount |
|---|---|
| Snittjer Grain Company, Inc. | $240,400 |
| Meyer Agri Air, Inc. | $153,200 |
| Eiten Farm Partnership | $75,400 |
| Timothy Society of Christian Instruction, Inc. | $66,700 |
| David Nederhoff Trucking | $34,582 |
| Jay Mennenga | $33,600 |
| Gregory Lindaman | $28,077 |
| Myles D. Meyer | $21,700 |
| Nathan Koch | $21,680 |
| Derek Haupt | $20,833 |
| Robert Heinrich | $20,833 |
| Royce Paterni | $20,833 |
| Cody Meyer | $20,833 |
| Donald Anderson | $20,833 |
| Andrew Peters | $20,833 |
| Eric Huisman | $20,833 |
| Brandon L. Van Loh | $20,833 |
| Marlyn Mennenga | $17,900 |
| Dennis Trucking, LLC | $14,500 |
| Grain Way, Inc. | $14,500 |
| Buseman Electric, LLC | $13,700 |
| Saul Transportation, LLC | $13,660 |
| Wellsburg Christian Reformed Church | $13,355 |
| Bunger Family Farms, Inc. | $13,034 |
| Andy's Auto Parts, LLC | $13,000 |
| Ross & Associates, Inc. | $12,800 |
| Derek Kruger | $10,712 |
| United Reformed Church of Wellsburg, Iowa | $9,200 |
| Mennenga Trucking, LLC | $8,957 |
| Darrell Sents | $8,637 |
| Marvin Coblentz | $8,075 |
| Cordes, Inc. | $8,000 |
| Wellsburg Automotive | $7,500 |
| Timothy Diamond | $7,500 |
| Jason & Kristina Dempster | $6,900 |
| Steven Eiten | $6,300 |
| Iowa Radiant Electric, Inc. | $5,900 |
| Mark Nederhoff | $5,640 |
| Kent Nederhoff | $5,640 |
| Wellsburg Meadowbrook Golf Course, Inc. | $4,400 |
| Ring-Shank Construction, LLC | $4,300 |
| Randy Rieken | $4,230 |
| St. Pauls Lutheran Church | $4,000 |
| Brian Benning | $3,439 |
| Randy E Meints Construction, LLC | $3,280 |
| Grant Johnson | $3,224 |
| Homestyles Salon | $3,132 |
| Ashley's | $2,990 |
| Vernon Johnson | $2,600 |
| Eilderts Trucking, LLC | $2,167 |
| Susan L. Miller | $1,290 |
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