'Closed' sign

The Windmill Cafe in Savage and other local businesses temporarily closed their doors this year when the coronavirus pandemic uprooted business-as-usual.

The U.S. Department of Treasury and Small Business Administration on Monday released data on the nearly 700,000 loans distributed by the federal government in response to the coronavirus pandemic. 

The loan program is designed to provide a direct incentive to keep small business workers on the payroll, according to the treasury department. 

The loans will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent and utilities, according to the SBA. At least 60% of the forgiven loan amount must have been used on the payroll. 

The data identifies the businesses, including religious organizations, that received PayCheck Protection Program loans in amounts of $150,000 and above. A second set of data identifies where loans under $150,000 were distributed, but doesn't disclose the recipients. 

For some businesses on the lists, job retention figures were not reported. 

Savage 

In Savage, 402 businesses received PPP loans in an amount less than $150,000. These loans totaled approximately $13.6 million and reportedly retained 1,534 jobs. 

A total of 57 businesses received loans in the amount of $150,000 or greater. These loans reportedly retained 2,152 jobs. 

One loan in the amount of $5-10 million reportedly retained 344 jobs. The second largest loan, in the amount of $2 million to $5 million, reportedly retained 106 jobs. 

Four businesses received loans in the amount of $1 million to $2 million, and 13 local businesses received loans in the amount of $350,000 to $1 million. 

The remaining 38 businesses were granted loans in the amount of $150,000-$350,000. 

Shakopee 

In Shakopee, 459 businesses received PPP loans in an amount less than $150,000. These loans totaled approximately $15.5 million and reportedly retained 2,112 jobs. 

A total of 94 businesses received loans in the amount of $150,000 or greater. These loans reportedly retained 4,883 jobs. 

Three businesses received loans in the amount of $5 million to $10 million. The loans reportedly retained 250, 242 and 323 jobs. 

Six businesses received loans in the amount of $2 million to $5 million and 14 businesses received loans in the amount of $1 million to $2 million. 

Thirty others received loans in the amount of $350,000 to $1 million, and the 41 remaining loans were granted in the amount of $150,000 to $350,000. 

Prior Lake 

In Prior Lake, 535 businesses received PPP loans in amount less than $150,000. These loans totaled approximately $17.4 million and reportedly retained 2,498 jobs. 

Seventy loans greater in amounts of $150,000 or more were distributed in Prior Lake, which reportedly retained 4,708 jobs. 

One business received a loan in amount of $2 million to $5 million and two loans were given in the amount of $1 million to $2 million. 

Nineteen businesses received a loan in the amount of $350,000 to $1 million, and 44 businesses to received a loan in the amount of $150,000 to $350,000. 

Jordan 

In Jordan, 123 businesses received PPP loans in an amount less than $150,000. These loans totaled approximately $4.1 million and reportedly retained 609 jobs. 

Thirty-two loans in amounts of $150,000 or more were distributed in Jordan, which reportedly retained 1,291 jobs. 

One loan in the amount of $5 million to $10 million reportedly retained 212 jobs, and two loans were distributed in the amount of $2 million to $5 million. 

Eleven businesses received a loan in the amount of $350,000 to $1 million, and 18 others received a loan in the amount of $150,000 to $350,000. 

Chanhassen 

In Chanhassen, 351 businesses received PPP loans in an amount less than $150,000. These loans totaled approximately $12.5 million and reportedly retained 1,457 jobs.  

Seventy-eight loans in amounts of $150,000 or more were distributed in Chanhassen, which reportedly retained 5,274 jobs. 

Three loans were given in the the amount of $5 million to $10 million and three other businesses were given loans in the amount $2 million to $5 million.

Twelve others received a loan in the amount of $1 million to $2 million, and 22 businesses received a loan in the amount of $350,000 to $1 million. 

The remaining 38 businesses received a loan in the amount of $150,000 to $350,000.

Chaska 

In Chaska, 346 businesses received PPP loans in an amount less than $150,000. These loans totaled approximately $10.9 million and reportedly retained 1,343 jobs. 

Sixty-eight businesses received a loan in the amount of $150,000 or greater, which reportedly retained 4,490 jobs. 

Two businesses received loans in the amount of $5 million to $10 million. These loans retained 406 and 434 jobs. 

Four businesses received grants in the amount of $2 million to $5 million, and four others received a loan in the amount of $1 million to $2 million. 

Loans in the amount of $350,000 to $1 million were given to 56 businesses, and 32 others received a loan in the amount of $150,000 to $350,000. 

Christine Schuster is a reporter for the Savage Pacer.

Events

Recommended for you