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East Central Iowa News

Tuesday, December 24, 2024

ZIP Code 52586: 14 PPP loans provided to small businesses in 2020

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There were 14 PPP loans provided to small businesses in 2020 in ZIP Code 52586, according to the US Small Business Administration.

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 52586

Name of BorrowerCurrent Approved Amount
Augustine & Sons, Incorporated$50,900
Conrad Bros$40,900
Mark & Linda Goodman$32,403
Chamra Farms, Inc.$27,300
Chamra Seed, LLC$20,800
Jackson Farms LS, Inc.$20,200
Matthew Molyneux$17,800
Troy Demoney$15,100
Double J Builders, LLC$13,700
Pizza Den, LLC$12,900
Fynaardt Farms, Ltd.$7,400
C R & K, Inc.$4,000
Jordan Wood$1,500
Shannon Wood$300

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