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Monday, December 23, 2024

These are the top 10 largest PPP loans in 2020 in ZIP Code 60961

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Here are the top 10 largest PPP loans provided in 2020 to small businesses in ZIP Code 60961, according to the US Small Business Administration.

The Paycheck Protection Program (PPP) provides loans to small businesses affected by the COVID-19 pandemic. Companies with less than 500 employees, sole-proprietorships, independent contractors or self-employed individuals may qualify for these loans, according to Harvard Business School.

A report on the program analyzed by the Peter G. Peterson Foundation found the “distribution of loans across sectors didn’t mirror the distribution of job losses.” It showed restaurants and food service businesses did not receive many loans, despite suffering the highest level of job losses.

A preliminary analysis from the National Bureau of Economic Research suggests the areas most affected by economic disruption did not receive the most loans.

The Paycheck Protection Program ended on May 31, 2021. Existing borrowers may be eligible for loan forgiveness at the discretion of the lender.

Top 10 largest PPP loans in 2020 in ZIP Code 60961
Name of BorrowerCurrent Approved Amount
Lake Shannon, Inc.$93,500
Kris Werth, Inc.$31,200
Brian L. Johnson$20,833
John O'Brien Farm$18,600
William Orr$18,400
Thomas P. O'Brien$15,282
O'Brien Family Farms$12,450
Wancho, LLC$12,097
United Meth Church of Reddick$8,512
Eric Patchett Farm$8,300

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