Private Schools In Twin Cities Got PPP Money

ST. LOUIS PARK, MN — Private schools in the Minneapolis-St. Paul metro were among the beneficiaries of the Paycheck Protection Program, or PPP, which were loans to help pay their employees during the coronavirus pandemic.

PPP loans were established as part of the federal government's CARES act, and are similar to grants: they will be forgiven as long as businesses keep their employees on their payroll, without cutting their pay. However, the money does not necessarily have to go directly to employees as long as the business keeps paying them — it can also be used to pay interest on mortgages, rent and utilities.

The U.S. Small Business Administration released data Monday that shows nearly 5 million businesses have received PPP loans totaling over $521,000,000,000. The U.S. Treasury says that money has supported 51.1 million jobs, as much as 84 percent of America's small business employees.

Here are some of the Twin Cities private schools that accepted PPP:

PPP between $1 million - $2 million

Academy of Holy Angels (Richfield)

Saint Thomas Academy (Mendota Heights)

Mounds Park Academy (Saint Paul)

Cretin-Derham Hall (Saint Paul)

PPP between $2 million - $5 million

Benilde-St. Margaret's School (St. Louis Park)

The Blake School

PPP between $5 million - $10 million

Breck School

Learn more about PPP loans at the SBA's website here.