Potbelly, Shake Shack, Axios: Here Are All The Companies Returning PPP Money After Public Backlash

The federal government’s emergency lending program for small businesses is up and running again today with a fresh $310 billion, after exhausting its original $350 billion allotment two weeks ago.

The program has been shrouded in controversy after a chaotic launch and the revelation that large public companies had received loans even though the program was designed to help small, vulnerable businesses stay afloat. That prompted the Small Business Administration to issue new guidance that clarifies which businesses are entitled to the forgivable funds.

theothersarahh Has nothing to do w/public backlash (unless it’s crowdfunding). These companies don’t need the money desperately, so they found a way to get more in the long run thru gifting. If all companies worked with communities in this fashion, the Govt wouldn’t be needed for codependency

theothersarahh Классно

theothersarahh

theothersarahh Сендвичи с потного живота чтоль )

theothersarahh Why are so many “pledging” to give the money back or saying they “will” give it back? What is the hold up? Potbelly RuthsChris sweetgreen

theothersarahh 100%?

theothersarahh They are all GIFTING back that money for a higher return, which is an intelligent move in a global recession in uncertain economic times while governments are failing

theothersarahh It looks like public outrage can temporarily cure the mental illness known as greed.

theothersarahh 👍

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Treasury Secretary Steve Mnuchin calls for private schools with large endowments to return small business loans'It has come to our attention that some private schools with significant endowments have taken PPP loans,' Mnuchin wrote on Twitter, 'They should return them.' What about public schools with huge and profitable football programs? Greed knows no bounds. Harvard isn’t going to return the money.
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