There were 31 PPP loans issued in Iowa during the week ending May 10. The average loan size in the state was between $150,000 to 350,000.
There are approximately five million approved PPP loans with a total of $517,451,965,102 set aside for funding, according to the Small Business Administration. The average loan size was around $105,000 with over 5,000 lenders currently participating in the program.
The program was slow to get off the ground when it was crushed by an onslaught of would-be applicants. Another major criticism of the program pertained to who was receiving the loans. A program that was meant for small businesses witnessed the Los Angeles Lakers receive $4.6 million from the program. The Lakers qualified for the program under the rules as written but returned the funds according to a Laker’s statement provided to news outlets.
| Recipients | Date Received | Dollar Amount Received |
|---|---|---|
| Blackhawk Engineering, LLC | 2020-05-04 | $1-2 million |
| Darwin T Lynner Company, Inc. | 2020-05-04 | $350,000-1 million |
| Mid-Step Services, Inc. | 2020-05-04 | $350,000-1 million |
| A. D. E. , Inc. | 2020-05-04 | $150,000-350,000 |
| BLB Delivery, Inc. | 2020-05-04 | $150,000-350,000 |
| Dapro, L.L.C. | 2020-05-04 | $150,000-350,000 |
| Dentistry at Somerset, P.C. | 2020-05-04 | $150,000-350,000 |
| Fessler Carbonic Gas Company | 2020-05-04 | $150,000-350,000 |
| Granger Children's Center, LLC | 2020-05-04 | $150,000-350,000 |
| Holzhauer Ford-Lincoln Storm Lake, Inc. | 2020-05-04 | $150,000-350,000 |
| Schaller Telephone Company | 2020-05-04 | $150,000-350,000 |
| Grand Falls Casino Resort, LLC | 2020-05-05 | $2-5 million |
| Rhythm City Casino, LLC | 2020-05-05 | $2-5 million |
| Visionary Services, Inc. | 2020-05-05 | $350,000-1 million |
| Atrium Village, Inc. | 2020-05-05 | $150,000-350,000 |
| Farmers Mutual Telephone Cooperative | 2020-05-06 | $150,000-350,000 |
| Central College | 2020-05-07 | $2-5 million |
| Northwestern College | 2020-05-07 | $1-2 million |
| Country View Estates, Inc. | 2020-05-07 | $150,000-350,000 |
| ESCP Corporation | 2020-05-07 | $150,000-350,000 |
| Gearhead Communications, LLC | 2020-05-07 | $150,000-350,000 |
| Patchman USA, Inc. | 2020-05-07 | $150,000-350,000 |
| Steven B Webster | 2020-05-07 | $150,000-350,000 |
| Vencomatic, Inc. | 2020-05-07 | $150,000-350,000 |
| Voss Bros Plumbing & Heating, Inc. | 2020-05-07 | $150,000-350,000 |
| Waste Technician, Inc. | 2020-05-07 | $150,000-350,000 |
| Loras College | 2020-05-08 | $2-5 million |
| Central Park Dentistry Charles City, LLC | 2020-05-08 | $150,000-350,000 |
| Old Town Corporation | 2020-05-08 | $150,000-350,000 |
| Poured Walls of Iowa, Inc. | 2020-05-08 | $150,000-350,000 |
| Palmer College Foundation | 2020-05-09 | $5-10 million |
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