There were 49,101 small businesses in Iowa which received Paycheck Protection Loans (PPP) of $25,000 or under. These 49,101 businesses received $598,447,580 in total since the COVID-19 pandemic began, according to the U.S. Small Business Administration
Loans of $25,000 were provided to 126 businesses.
The largest loan underneath the $25,000 threshold was $25,000, given to Red Bike Iowa City, LLC.
The average loan amount provided to Iowa small businesses was $44,244.
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 IA |
|---|---|---|
| Red Bike Iowa City, LLC | $25,000 | -$19,244 |
| Greco and Associates Fin Services | $25,000 | -$19,244 |
| Law Office of Joel Walker, PC | $25,000 | -$19,244 |
| Michael Moran | $25,000 | -$19,244 |
| Tama-Toledo Eagles Aerie Management, LLC | $25,000 | -$19,244 |
| Bohlmann and Sons Sanitation, LLC | $25,000 | -$19,244 |
| Brower Bowling, Inc. | $25,000 | -$19,244 |
| Skinner Innovations, LLC | $25,000 | -$19,244 |
| Genesis Satellite Center, LLC | $25,000 | -$19,244 |
| Veath Dental, Inc. | $25,000 | -$19,244 |
| Thai Spice, Inc. | $25,000 | -$19,244 |
| Casey C Miller DC, PC | $25,000 | -$19,244 |
| Kanne & Associates, LLC | $25,000 | -$19,244 |
| It’s a Ruff Life Doggy Daycare | $25,000 | -$19,244 |
| Heartland Automation, Inc. | $25,000 | -$19,244 |
| Agpro Partners Midwest, LLC | $25,000 | -$19,244 |
| Genesis Satellite Center, LLC | $25,000 | -$19,244 |
| Centerville Greenhouses, Inc. | $25,000 | -$19,244 |
| Ifos, LLC | $25,000 | -$19,244 |
| Furry Friends Refuge | $25,000 | -$19,244 |
| Furry Friends Refuge | $25,000 | -$19,244 |
| Healthquest Chiropractic & Wellness | $25,000 | -$19,244 |
| Black Hawk Gymnastics & Cheer, LLC | $25,000 | -$19,244 |
| Kuchel Homes, LLC | $25,000 | -$19,244 |
| Mcnally Dairy | $25,000 | -$19,244 |
| Dancom, Inc. | $25,000 | -$19,244 |
| Bormanns Neighbrohood Pitstop, LLC | $25,000 | -$19,244 |
| Caswell Excavating, Inc. | $25,000 | -$19,244 |
| Healthquest Chiropractic & Wellness Center, P.C. | $25,000 | -$19,244 |
| Furry Friends Refuge | $25,000 | -$19,244 |
| Furry Friends Refuge | $25,000 | -$19,244 |
| Britt Auto Service | $25,000 | -$19,244 |
| YHWH, LLC | $25,000 | -$19,244 |
| Soma, LLC | $25,000 | -$19,244 |
| Cia Health Screening, Inc. | $25,000 | -$19,244 |
| David V. Stoner Farms, Inc. | $25,000 | -$19,244 |
| Max Tire and Auto, Inc. | $25,000 | -$19,244 |
| Rust Insurance, Inc. | $25,000 | -$19,244 |
| Marco’s, Inc. | $25,000 | -$19,244 |
| YHWH, LLC | $25,000 | -$19,244 |
| Storm Rummel, Inc. | $25,000 | -$19,244 |
| Bockman, Ltd. | $25,000 | -$19,244 |
| Agri-Valley Farm Management, LLC | $25,000 | -$19,244 |
| Integer Logistics Group, Inc. | $25,000 | -$19,244 |
| Countywide Electric, LLC | $25,000 | -$19,244 |
| Rhino Concrete Company, LLC | $25,000 | -$19,244 |
| Countywide Electric, LLC | $25,000 | -$19,244 |
| Mark L. Chipokas, PC | $25,000 | -$19,244 |
| Get Organized!, LLC | $25,000 | -$19,244 |
| The First United Methodist Church of West Branch, Iowa | $25,000 | -$19,244 |
| MWB Transfer, LLC | $25,000 | -$19,244 |
| Larrys Agent Repair, LLC | $25,000 | -$19,244 |
| Kreamer Law Firm, P.C. | $25,000 | -$19,244 |
| Howell Chiropractic Center, LLC | $25,000 | -$19,244 |
| Community Veterinary Clinic, PC | $25,000 | -$19,244 |
| Universal Stone, LLC | $25,000 | -$19,244 |
| Christensen Agri-Seed, Inc. | $25,000 | -$19,244 |
| Usgaard & Smith Sales & Service | $25,000 | -$19,244 |
| Moore Seed & Service | $25,000 | -$19,244 |
| Daniel R Burgmeier, PC, D.D.S. | $25,000 | -$19,244 |
| Dancom, Inc. | $25,000 | -$19,244 |
| Seneca Street Saloon, Inc. | $25,000 | -$19,244 |
| Dennis Mordhorst, Inc. | $25,000 | -$19,244 |
| Revolt, Inc. | $25,000 | -$19,244 |
| Pape Brothers Insurance, Inc. | $25,000 | -$19,244 |
| Los Lagos, LLC | $25,000 | -$19,244 |
| Zanker Meats, Inc. | $25,000 | -$19,244 |
| Spine & Sport Chiropractic Center, P.C. | $25,000 | -$19,244 |
| Curriculum Management Solutions, Inc. | $25,000 | -$19,244 |
| Profit Consultants, LLC | $25,000 | -$19,244 |
| KVG, LLC | $25,000 | -$19,244 |
| Boone Area Humane Society | $25,000 | -$19,244 |
| Patterson James Funeral Chapels, Inc. | $25,000 | -$19,244 |
| Caswell Excavating, Inc. | $25,000 | -$19,244 |
| John Pratt Financial, LLC | $25,000 | -$19,244 |
| LL Davis Trucking, LLC | $25,000 | -$19,244 |
| Kertel’s Plumbing & Heating, Inc. | $25,000 | -$19,244 |
| Hohbach Construction, Inc. | $25,000 | -$19,244 |
| Rose Valley Farm | $25,000 | -$19,244 |
| Strang Tire Company | $25,000 | -$19,244 |
| Get Organized!, LLC | $25,000 | -$19,244 |
| 515 Real Estate and Insurance | $25,000 | -$19,244 |
| Child Development, Inc. | $25,000 | -$19,244 |
| Child Development, Inc. | $25,000 | -$19,244 |
| Cy’s Tree Service, LLC | $25,000 | -$19,244 |
| Cloverdale, Inc. | $25,000 | -$19,244 |
| Next Phase Development, LLC | $25,000 | -$19,244 |
| W & W Construction, LLC | $25,000 | -$19,244 |
| The River’s Edge | $25,000 | -$19,244 |
| P & N Corporation | $25,000 | -$19,244 |
| Iowa Anesthesia Care, PC | $25,000 | -$19,244 |
| Nathan Hull Insurance Agency, Inc. | $25,000 | -$19,244 |
| Ross Buys, LLC | $25,000 | -$19,244 |
| Associated Management, LLC | $25,000 | -$19,244 |
| Adelisa, LLC | $25,000 | -$19,244 |
| Dutch Creek Trucking, LLC | $25,000 | -$19,244 |
| S & J Lawler, Inc. | $25,000 | -$19,244 |
| The First Christian Reformed Church of Rock Valley, Iowa | $25,000 | -$19,244 |
| Farmers Mutual Insurance Association of Roselle | $25,000 | -$19,244 |
| Black Hawk Gymnastics & Cheer, LLC | $25,000 | -$19,244 |
