Coronavirus Relief Loans In Eagan: Where PPP Money Went

Eagan MN

08 July, 2020

5:31 PM

Description

EAGAN, MN — Thousand of Minnesota businesses have received Paycheck Protection Program, or PPP, loans to help pay their employees during the coronavirus pandemic. PPP loans were established as part of the federal government's CARES act, and are similar to grants: they will be forgiven as long as businesses keep their employees on their payroll, without cutting their pay. However, the money does not necessarily have to go directly to employees as long as the business keeps paying them — it can also be used to pay interest on mortgages, rent and utilities. The U.S. Small Business Administration released data Monday that shows nearly 5 million businesses have received PPP loans totaling over $521,000,000,000. The U.S. Treasury says that money has supported 51.1 million jobs, as much as 84 percent of America's small business employees. Here are a few local businesses and organizations that accepted PPP: PPP between $150K - $300K MUDDY COW EAGAN LLCPAMPERED PET RESORTS INCWISE SWIM SCHOOL INCPPP between $350K - $1 million EAGAN ORTHOPEDIC SURGERY PHYSICIANS GROUP, LLCAMERICAN CARTON AND POLYBAG INCASK LLPPPP between $1 million - $2 million PROACT, INC.EAGAN COUSELING CLINIC, LTDOPAL SERVICES, INC.PPP between $2 million - $5 million DART X, INCMASTER MECHANICAL, INC.TEMPWORKS MANAGEMENT SERVICES INC.Here is a complete list of all Minnesota businesses who have received PPP loans over $150,000. Tens of thousands more businesses received loans under $150,000. Editor's Note: The data used in this story came from the Small Business Administration. Since the release of the PPP database, a number of errors related to the loan amounts received by small businesses have been reported. If your business is listed here as receiving the wrong loan amount, email [email protected] so we can make the correction.