The U.S. Treasury on Monday released the names of around 650,000 businesses and nonprofits who received money through a federal program designed to reduce job losses from the COVID-19 induced recession.
The list includes hundreds of businesses in La Crosse and surrounding areas who received forgivable loans of $150,000 or more through the Payroll Protection Program (PPP). The names of companies who received loans under $150,000 have not been released.
Weber Holdings, People’s Food Co-Op, Aquinas Catholic Schools, Duratech Industries, Fowler and Hammer and Dahl Automotive were among the businesses who received money locally. To see how much they received, and review a local list of beneficiaries of the PPP program in La Crosse, Holmen, West Salem, Onalaska, Westby and Viroqua, click here.
The loans have a 1% interest rate and will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (at least 60% of the forgiven amount must have been used for payroll) within a certain timeframe. By the end of June, the PPP program had distributed $521 billion.
By Eric Timmons. Email questions to email@example.com