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 52214
| Name of Borrower | Current Approved Amount |
|---|---|
| Neighbor Insurance Service, Inc. | $303,200 |
| Central Foundation, Inc. | $191,000 |
| Central City Family Pharmacy | $127,600 |
| Rudd Sanitation, Inc. | $119,200 |
| Iowa Gold Distributing, Inc. | $70,500 |
| Dave Francois | $46,500 |
| AL Gates Enterprises | $46,400 |
| Holub Insurance Agency, LLC | $35,400 |
| B. J. Paustian Enterprise, LLC | $28,700 |
| Maxwell Valley, Inc. | $28,000 |
| Gary Greif | $25,541 |
| Balderston Farms, Inc. | $22,500 |
| Mark A. Greif | $20,833 |
| John Burke | $20,800 |
| J. L. Cruise, LLC | $20,700 |
| John Airy Auctioneer | $19,700 |
| Station 1 Automotive, LLC | $19,200 |
| Thomas J. Maxwell | $15,500 |
| Buffalo Ridge Orchard, LLC | $13,600 |
| First United Methodist Church of Central City, Iowa | $13,400 |
| Emporium Enterprises, Inc. | $12,300 |
| Daniel Cook | $10,700 |
| M&e Trucking, LLC | $10,600 |
| Grant Olson | $10,110 |
| Philip Brecht | $9,700 |
| St. Stephen's Church, Central City, Iowa. | $9,200 |
| William Harris | $9,120 |
| Peter A. Brecht | $9,000 |
| United Church of Christ of Central City, Iowa | $9,000 |
| Duane Bolton | $8,500 |
| H & H Drywall, Inc. | $7,100 |
| Foxy's Chill and Grill, LLC | $6,800 |
| Ronnie Hettinger | $6,500 |
| Eastern Iowa Spray Foam & Waterproofing, LLC | $6,390 |
| Leclere Family Chiropractic, PC | $5,630 |
| R. E. Jons Acres, Ltd. | $5,000 |
| Andy E. Bolton | $4,900 |
| Rob A. Opfer | $4,300 |
| Dayspring Medical Case Management | $3,825 |
| SKE & Companies, Inc. | $3,750 |
| Central City Mainstreet | $3,700 |
| Holub Trucking | $3,300 |
| O'Leary's, Inc. | $3,200 |
| Jeffrey R. Boss | $3,100 |
| Linn County Fair Association | $2,800 |
| Gary Snobl | $2,500 |
| James E. Dettmann | $1,900 |
| Dean Uhlenkamp | $1,800 |
| Donald T. Pfab | $1,500 |
| The Polish Shop | $1,200 |
| Roxanne K. Leffert | $300 |
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