Loans of $25,000 were provided to 54 businesses.
The largest loan underneath the $25,000 threshold was $25,000, given to Vetter Homes, Inc..
The average loan amount provided to North Dakota small businesses was $53,614.
One of the biggest drivers causing inflation, which is currently decimating the U.S. economy, is loans. With more money available to residents through the PPP, the purchasing power of that money is diminished, meaning it takes more money to buy the same amount of goods as before.
Economist Mickey D. Levy argued the PPP and many other assistance programs offered during the COVID-19 pandemic sparked the inflation seen in recent months by boosting the economy beyond what it could reasonably handle.
Roughly $800 billion was injected into the U.S. economy while interest rates were low, causing people to overextend themselves at the time to land in trouble in the future, he claimed.
A 2022 study found that the PPP spent between $169,000 and $258,000 to protect one job. With the average salary of a small-business worker being around $58,000, the study found the program overspent by roughly 75 percent.
| Borrower Name | Loan Amount | Difference From Average Loan Amount in ND |
|---|---|---|
| Vetter Homes, Inc. | $25,000 | -$28,614 |
| Badlands Integrity Group, LLC | $25,000 | -$28,614 |
| Western Stars & Stripes, Inc. | $25,000 | -$28,614 |
| Revolution Transport, LLC | $25,000 | -$28,614 |
| Minot Swim Club, Inc. | $25,000 | -$28,614 |
| Dickey and Lamoure County Abstract and Title Company | $25,000 | -$28,614 |
| QPI Nails & Spa | $25,000 | -$28,614 |
| Black Diamond Cattle Company, LLC | $25,000 | -$28,614 |
| T & T Tire and Auto, Inc. | $25,000 | -$28,614 |
| BP Auto Sales, Inc. | $25,000 | -$28,614 |
| Tri-S Farms, Inc. | $25,000 | -$28,614 |
| William Thornton Crna PC, Inc. | $25,000 | -$28,614 |
| Dakota Oilfield Solution | $25,000 | -$28,614 |
| Mc's Courier, Inc. | $25,000 | -$28,614 |
| Complete Petroleum Incorporated | $25,000 | -$28,614 |
| JPD Consulting, LLC | $25,000 | -$28,614 |
| Innovative Consulting ND, LLC | $25,000 | -$28,614 |
| DT Transport, Inc. | $25,000 | -$28,614 |
| Joshua Anderson | $25,000 | -$28,614 |
| Mathiason Farms, Inc. | $25,000 | -$28,614 |
| Lightning Creek Services, LLC | $25,000 | -$28,614 |
| Adloc, Inc. | $25,000 | -$28,614 |
| JPD Consulting, LLC | $25,000 | -$28,614 |
| Minot Swim Club, Inc. | $25,000 | -$28,614 |
| Hudson Farms | $25,000 | -$28,614 |
| D R Transport, Inc. | $25,000 | -$28,614 |
| Snacs, Inc. | $25,000 | -$28,614 |
| Oilwater Energy Solutions, LLC | $25,000 | -$28,614 |
| Bowman Veterinary Clinic | $25,000 | -$28,614 |
| Jason Bosse Farms, Inc. | $25,000 | -$28,614 |
| BCH of Minot, LLC | $25,000 | -$28,614 |
| Crosby Park Board | $25,000 | -$28,614 |
| Arrow Enterprises, LLC | $25,000 | -$28,614 |
| Revolution Transport, LLC | $25,000 | -$28,614 |
| Modern Eyes, LLC | $25,000 | -$28,614 |
| Modern Eyes, LLC | $25,000 | -$28,614 |
| KG Contracting Company, Inc. | $25,000 | -$28,614 |
| A Plus Auto Repair, Inc. | $25,000 | -$28,614 |
| Titan Resources, Inc. | $25,000 | -$28,614 |
| Vetter Homes, Inc. | $25,000 | -$28,614 |
| Larry D + Claudia Haaven | $25,000 | -$28,614 |
| Peterson Brothers Farm | $25,000 | -$28,614 |
| Mathiason Farms, Inc. | $25,000 | -$28,614 |
| American Mail House, Inc. | $25,000 | -$28,614 |
| Joshua Anderson | $25,000 | -$28,614 |
| The Big One ART & Craft Fair, LLC | $24,999 | -$28,615 |
| Erv's Janitorial, Inc. | $24,982 | -$28,632 |
| Amundson Partners, Inc. | $24,951 | -$28,663 |
| Amundson Partners, Inc. | $24,950 | -$28,664 |
| Kenyon Sorby, Inc. | $24,950 | -$28,665 |
| D&P Terminal, Inc. | $24,944 | -$28,670 |
| Ryan S & Melissa L Brekke | $24,944 | -$28,670 |
| Kevin Brown | $24,940 | -$28,674 |
| Richard Brown | $24,920 | -$28,694 |
| Rovig Holdings, LLC | $24,915 | -$28,699 |
| Napoleon Ambulance Service | $24,915 | -$28,699 |
| Tc's Custom Painting, LLC | $24,903 | -$28,711 |
| Electrical Concepts, Inc. | $24,900 | -$28,714 |
| Electrical Concepts, Inc. | $24,900 | -$28,714 |
| Justin Holten Insurance Agency, Inc. | $24,900 | -$28,714 |
| Scott Breidenbach, Inc. | $24,900 | -$28,714 |
| Huber Homes, LLC | $24,900 | -$28,714 |
| Chenpo, LLC | $24,900 | -$28,714 |
| Independent Radiology Services, Ltd. | $24,900 | -$28,714 |
| Brian Larson Agency, Inc. | $24,900 | -$28,714 |
| Dave's Place | $24,900 | -$28,714 |
| Dave's Place | $24,900 | -$28,714 |
| Platinum Pitas, LLC | $24,900 | -$28,714 |
| D & P Terminal, Inc. | $24,900 | -$28,714 |
| Stoppleworth & Sons, Inc. | $24,900 | -$28,714 |
| Gotta Insurance Agency, Inc. | $24,900 | -$28,714 |
| Chad R. Bergan P. C., D.D.S. | $24,894 | -$28,720 |
| Conroy Legal Services, PLLC | $24,878 | -$28,737 |
| Michael Baumgartner Construction, Inc. | $24,865 | -$28,749 |
| Eagle One Welding Solutions | $24,846 | -$28,768 |
| Homefield Health, LLC | $24,840 | -$28,774 |
| Bank Seeds, Inc. | $24,840 | -$28,774 |
| Prairie Stone, LLC | $24,839 | -$28,775 |
| Wuori's Repair | $24,828 | -$28,786 |
| Nehring CPA, LLC | $24,827 | -$28,787 |
| New Town China Express, Inc. | $24,825 | -$28,789 |
| Great Plains Hospitality, Inc. | $24,800 | -$28,814 |
| E Group, Inc. | $24,800 | -$28,814 |
| Flaten Construction, Inc. | $24,800 | -$28,814 |
| Teachers Lounge Bar & Grill, LLC | $24,800 | -$28,814 |
| Happy Families Daycare, LLC | $24,800 | -$28,814 |
| Cozy Creek Builders | $24,800 | -$28,814 |
| Lovcik Eats & Treats, LLC | $24,800 | -$28,814 |
| Hart Financial | $24,800 | -$28,814 |
| Wade & Tanya Romfo | $24,791 | -$28,823 |
| Stadium Sports Bar and Grill, Inc. | $24,773 | -$28,841 |
| Sun Foods II, Inc. | $24,765 | -$28,849 |
| Centennial Bar | $24,763 | -$28,851 |
| 701 Realty, Inc. | $24,750 | -$28,864 |
| Steve's Package Store, Inc. | $24,743 | -$28,871 |
| Jacobson Distributing, Inc. | $24,740 | -$28,874 |
| R Lazy B Ranch, Inc. | $24,739 | -$28,875 |
| Daniel Marquardt | $24,735 | -$28,879 |
| KV Builders, LLC | $24,735 | -$28,879 |
| Elite Woodwork | $24,732 | -$28,882 |
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