There were 24 PPP loans issued in Minnesota during the week ending June 7. The average loan size in the state was between $150,000 to 350,000.
There are approximately five million approved PPP loans with a total of $517,451,965,102 set aside for funding, according to the Small Business Administration. The average loan size was around $105,000 with over 5,000 lenders currently participating in the program.
The program was slow to get off the ground when it was crushed by an onslaught of would-be applicants. Another major criticism of the program pertained to who was receiving the loans. A program that was meant for small businesses witnessed the Los Angeles Lakers receive $4.6 million from the program. The Lakers qualified for the program under the rules as written but returned the funds according to a Laker’s statement provided to news outlets.
| Recipients | Date Received | Dollar Amount Received |
|---|---|---|
| Crystal Nail Salon, Inc. | 2020-06-01 | $150,000-350,000 |
| Lakes Area Manufacturing Company | 2020-06-01 | $150,000-350,000 |
| Twin City Home Healthcare, LLC | 2020-06-01 | $150,000-350,000 |
| Mission Farm Nursing Home, Inc. | 2020-06-02 | $1-2 million |
| Afsa High Schoo | 2020-06-02 | $350,000-1 million |
| Missions, Inc. | 2020-06-02 | $350,000-1 million |
| Alpha Home Care | 2020-06-02 | $150,000-350,000 |
| Lino Lakes Landscaping, LLC | 2020-06-02 | $150,000-350,000 |
| Tecnifoam, Inc. | 2020-06-02 | $150,000-350,000 |
| Miracle Ear, Inc. | 2020-06-03 | $1-2 million |
| Schlagel, Inc. | 2020-06-03 | $1-2 million |
| Alex Home Care, Inc. | 2020-06-03 | $150,000-350,000 |
| Dunamis Praise Chapel International | 2020-06-03 | $150,000-350,000 |
| Allsen Enterprises, LLC | 2020-06-04 | $350,000-1 million |
| Agra Culture 50th France, LLC | 2020-06-04 | $150,000-350,000 |
| Airport Dental Clinic, P.A. | 2020-06-04 | $150,000-350,000 |
| Bio Company | 2020-06-04 | $150,000-350,000 |
| LA Grolla St. Paul, LLC | 2020-06-04 | $150,000-350,000 |
| Nivon Wellness Center, LLC | 2020-06-04 | $150,000-350,000 |
| Yumi Excelsior, LLC | 2020-06-04 | $150,000-350,000 |
| Yumi St. Paul, LLC | 2020-06-04 | $150,000-350,000 |
| American Indian Oic, Inc. | 2020-06-05 | $150,000-350,000 |
| CP Rochester, Inc. | 2020-06-05 | $150,000-350,000 |
| Velolet, Inc. | 2020-06-05 | $150,000-350,000 |
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