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 49968
| Name of Borrower | Current Approved Amount |
|---|---|
| Gogebic Medical Care Facility | $1,407,700 |
| Mackinac Island Carriage Tours, Inc. | $1,096,690 |
| G a Dalbeck Logging, LLC | $279,249 |
| Indianhead Operations, LLC | $259,000 |
| Stoneworks Construction, Inc. | $205,837 |
| Miljevich Corporation | $77,284 |
| MLC of Wakefield, Inc. | $76,676 |
| Wakefield Pharmacy Enterprises, Ltd. | $64,825 |
| Sunday Lake Supermarket, Inc. | $43,929 |
| James E Rocco PC, M.D. | $43,707 |
| Keenagers Corporation | $34,835 |
| Smily's Excavating & Trucking | $29,040 |
| 906 Cafe, LLC | $26,430 |
| Northwoods Harvesting and Processing, LLC | $25,957 |
| Robert W Aukee, D.D.S. | $22,075 |
| Perttula's Auto Repair Center, Inc. | $20,875 |
| Randall Body & Custom Painting | $17,290 |
| Radowski Incorporated | $16,020 |
| Steven Anderson | $14,750 |
| Shelley A. Nordine | $7,800 |
| Peter G Koruga & Son, LLC | $7,247 |
| Western U. P. Recycling Center, LLC | $6,490 |
| April Dawn Ramminger Property Manager | $4,400 |
| Craig J. Talsma | $2,685 |
| Stacie Lemerond Independent Contractor | $2,064 |
| Harju Septic | $1,600 |
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