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 49765
| Name of Borrower | Current Approved Amount |
|---|---|
| Presque Isle Electric & Gas Company-Op | $1,609,596 |
| Moran Iron Works, Inc. | $708,878 |
| Precision Forestry, Inc. | $544,200 |
| Great Lakes Power & Pipe, Inc. | $229,495 |
| Onaway Auto & Finance Company | $136,900 |
| Woodwinds Restaurant, Inc. | $133,890 |
| Industrial ARTS Institute | $72,292 |
| Kitridge Anderson PC, D.D.S. | $66,600 |
| M & K Food Enterprises, Inc. | $65,300 |
| Precision Hardwoods, Inc. | $63,300 |
| Sanitation, PAC | $53,917 |
| Onaway Custom Embroidery, Inc. | $49,765 |
| 2125 Cable Company, LLC | $49,405 |
| Hyde's, Inc. | $48,525 |
| 211 Bar and Grill, Inc. | $45,744 |
| Hobson Electric Company, Inc. | $42,101 |
| Janes Enterprises, Inc. | $41,847 |
| Norb's Auto Body, Inc. | $37,020 |
| Baumgarten Collision, LLC | $32,300 |
| G & M Petroleum, Inc. | $28,870 |
| Northcott Excavating, Inc. | $27,000 |
| Mclean Electric, Inc. | $21,137 |
| Stoney Creek Structural Engineering, LLC | $20,832 |
| Dougherty's, Inc. | $18,802 |
| Nash Forest Product, Inc. | $18,215 |
| Chaskey Septic Service, Inc. | $16,030 |
| Chagnon Funeral Home, Inc. | $15,878 |
| St. Paul Catholic Church | $15,700 |
| Van Houten's Woodcraft, Lawn Care & Snowplowing, LLC | $15,362 |
| Havel's Northland Bar, Inc. | $13,860 |
| Tuck Energy Services, LLC | $13,225 |
| Larson Construction and Painting, Inc. | $12,550 |
| Willy D's Auto Parts, Inc. | $11,465 |
| Onaway Assembly of God | $11,355 |
| Onaway United Methodist Church | $10,450 |
| Sharon F. Elwell | $8,750 |
| B3 Restorations, LLC | $6,000 |
| Debra St. Germain | $4,772 |
| The Flower Box, Inc. | $4,165 |
| Roat Construction | $3,687 |
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