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During the height of the COVID-19 pandemic, when many businesses were shut down or their hours cut back, Congress passed the Coronavirus Aid, Relief and Security (CARES) Act, which established the SPA Paycheck Protection Program (PPP). The PPP offered loans for forgiveness that allowed business owners to cover payroll and keep their doors open through the pandemic.
The PPP began on August 10, 2020. The SBA started approving those loans in October of that year. To qualify, businesses or non-profits had to meet three criteria: Your business didn’t reduce employee wages by more than 25 percent or employee hours; Your business didn’t reduce employee wages by more than 25 percent and experienced financial losses due to coronavirus-related health directives; and third, you are self-employed with no employees.
In April of this year, Forbes magazine took a two-year look back at the PPP and stated, “Two years later, many believe the PPP was a success. Despite issues with fraud and ongoing challenges posed by loan forgiveness, the program helped millions of small business owners stay in business and prevented further panic at an already anxious time.”
Following three funding rounds, businesses across the US had borrowed $800 billion from the PPP funds. Below are Cook County businesses and amounts given and forgiven through the PPP, as noted by ProPublica.
Schroeder
Lambs Resort and Campground, $58,213.
McKeever Well Drilling, Inc. $61,297.
Superior Ridge Resort-Motel, Inc. $24,148.
Tofte Management Company, LLC., $694,400.
Tofte Hospitality, LLC, $71,700.
Temperance Valley Title & Stone Inc. $30,846.
TRK Holdings, $24,150.
Tofte General Store, $24,056.
Temperance Valley Title and Stone, $21,248.
Lutsen
North Shore Resort Company, $779,936.
Isak Hansen and Sons Inc. $195,340, and $197,935.
North Shore Resort Company, $1,091,913.
Lutzen Mountainside Lodge LLC. $25,000.
Superior Properties North Shore, $103,365.
Regulatory Strategies, Inc. $29,543.
Lockport, Inc. $29,000.
Mountain Shop Inc. $22,848.
Clearview Store LLC. $22,800.
Lutsen Mountains Corporation, $694,151.
Cascade Vacation Rentals LLC. $108,061.
Mountain Shop, Inc.
$22,857.
Cascade Hospitality LLC. $115,220.
Superior Properties North Shore, $103,365.
Lutsen Evangelical Lutheran Church, $22,051.
Regulatory Strategies Inc. $29,543.
Hovland
Moetown, Inc. $30,000.
Arktikos Custom Builders LTD. $22,400; and in 2021, $22,400.
Laboda Grading, $28,425.
Grand Portage
Grand Portage Trading Post, $79,998 in 2020 and $79,987 in 2021.
Grand Portage Development Corporation, $221,678.
Grand Portage Band of Lake Superior Chippewa, $310,349.
Grand Portage Casino, $1,107,037 and $790,740.
Ryden’s Gas, LLC $28,913 and $29,913.
Ryden’s Border Store LLC. $116,332.
Grand Marais area
Gunflint Tavern On the Lake LLC $142,800.
360 Services LLC. $29,247.
Northstar Cabling & Communications LLC, $59,750 and $23,632.
Sven & Ole’s Inc. $98,339 n 2020 an $70,242 in 2021.
Grand Marais Hotel Co. $24,675.
Java Moose LTD. $64,952.
My Sister’s Place Inc. $96,605.
Northwind Sailing, Inc. $310,845.
Spruceglen Inc. $82,466.
Lupin, Inc. $31,236.
Grand Marais Family Dentistry PA, $126,740 in 2020 and $126,700 in 2021.
Upstate Mn. LLC. $110,097.
Three Families Brewing LLC, $135,482.
Cook County Whole Foods Co-op, $201,962.
Edwin E. Thoreson, Inc. $171,962.
Cook County Visitors Bureau, $98,200.
Stanley J Bautch, $29,204.
RCCR LLC, $28,00.
Joynes, Inc. $72,902 in 2020 and $72,828 n 2021.
Spruceglen Inc. $58,860.
SDW Construction LLC, $23,435.
Minnesota Saw Works LLC, $22,627.
Adeptyx Consulting Inc. $117,415.
Trail Center Lodge, LLC, $87,500.
Back Office Services, LLC. $806.
Berneking Construction LLC. $23,854.
Bethlehem Lutheran Church, $26,783.
Cook County Home Center LLC. $78,683.
Sivertson Art Gallery, $76,152 in 2021 and $66,360 in 2020.
Trail Center Lodge, LLC, $69,340.
MJ Resort, Inc. $202,900.
Gene’s Foods, Inc. $197,592.
North House Folk School, $155,793 in 2020 and $158,350 in 2021.
Northwind Sailing, $222,033.
Upstate Mn, $22,719.
Works Construction & Maintenance Services L.L.C. $26,000.
S&C Masonry- Concrete, Inc. $25,646.
The Blue Moose $25,498.
Clearwater Adventure, LLC $24,871.
Cedar Grove Veterinary Clinic, PA $24,648.
Lake Superior Trading Post Inc. $126,684.
Three Families Brewing LLC, $117,100.
Sawtooth Lumber Inc. $70,400.
Buck’s Hardware Hank LLC. $68,500.
360 Services LLC, $30,000.
Moetown Inc. $29,626.
Mike’s Holiday, $192,523 and $137,349.
Cook County Hospital District, $1,436,250.
L Jireh, Inc. $140,345.
McMillan Tree Service Inc. $22,043.
Cook County Council on Aging $20,833.
Kirks Bookworks L LC. $916.
Thompson Performance, $735.
South of the Border Café, LLC $31,246.
Croftville Road Cottages, $27,540.
Morawitz Construction and Remodeling, $26,880.
Cook County Historical Society, $25,978.
Grand Marais Arts, Inc. $62,500.
Cook County Community Radio, $71,393.
Lake Superior Trading Post, $101,347.
Sawtooth Mountain Clinic, $673,888.
Hedstrom Lumber Company, Inc. $378,500.
L. Jireh Inc. $238,000.
Jason Hill Excavating LLC, $30,943.
Grand Marais Auto Parts Inc. $27,990.
H&D Kettunen, LLC $26,990.
Cook County Historical Society, $25,978.
North Superior Fishery LLC $25,000.
Grand Marais Investors, Inc. $100,200.
Birchwood Trading Inc., $22,900.
Coldwater Foundation for Leadership and Community Development, $20,980.
Taiga Design+Build LLC, $70,773.
Java Moose, LTD. $69,654.
Grand Marais Arts Inc., $62,500.
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