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 49953
Name of Borrower | Current Approved Amount |
---|---|
Ontonagon County R. E. A. | $334,295 |
Horizon Home Care, Inc. | $85,900 |
SNRN Broadcasting, Inc. | $83,000 |
CMDHB, Inc. | $79,500 |
Strong Dental Center, PLC | $76,950 |
Harbor Town Pharmacy, Inc. | $70,232 |
F&W Associates, Ltd. | $61,512 |
JSP Contracting, LLC | $55,771 |
Ontonagon It & Processing, LLC | $55,200 |
Norman Pestka Construction, Inc. | $43,185 |
Dick Wagner Agency, Inc. | $36,000 |
Weisinger Forest Products, Inc. | $35,268 |
906 Services, Inc. | $32,300 |
Koski Log Homes, Inc. | $25,419 |
Red Metal Explorations, Inc. | $23,600 |
Holy Family Church | $22,565 |
John D Construction, Inc. | $18,980 |
M-64 Travel Center, Inc. | $18,100 |
Harbortown Auto, Inc. | $14,545 |
Pollard Logging, LLC | $13,470 |
Plutchak's Auto Parts, LLC | $11,625 |
Steven | $11,500 |
Joseph C. Domitrovich | $11,400 |
The Ontonagon Herald | $10,690 |
Connie's | $10,500 |
Up North Cafe | $10,300 |
Scott's Superior INN | $10,111 |
Dishaw Trucking, LLC | $9,250 |
Superior Shores Resort, LLC | $8,875 |
Georges Shamrock, LLC | $8,107 |
H&K Drywall Finishing | $7,250 |
Two Loons and Lake of the Clouds Resort | $5,270 |
Peninsula Graphics, Inc. | $5,000 |
Green Flannel Enterprises, Inc. | $3,207 |
Lake of the Clouds Resort | $2,300 |
Ontonagon Theater of Performing ARTS, Inc. | $2,000 |