Which companies are returning their PPP loan? Here's the list.

Facing public backlash, government warnings, and private misgivings, more than a dozen publicly traded companies and big businesses have so far announced they have returned, or intend to return, small-business coronavirus relief loans issued by the Small Business Administration.

Over a million businesses large and small applied under the loose guidelines that said companies must have fewer than 500 employees and be able to demonstrate economic injury due to the coronavirus shutdowns. The SBA and Treasury Department issued new guidance this week, clarifying that the loans were not intended for companies with access to the equity market. Treasury Secretary Steven Mnuchin warned companies last week that could suffer consequences if they could not certify they were facing economic injury. Companies have until May 7 to return funds"in good faith."

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Even The LA Lakers Got A PPP Small Business LoanThe Los Angeles Lakers — one of the NBA's most profitable franchises — have returned money they received from a federal loan program intended for small companies. More than 200 public companies are still holding onto money from the program. Sure do love them little ma-&-pa NBA franchises. Publicly traded companies have shares they can issue or various other ways to raise money this whole PPP Small Business Loan program is a complete fraud joke corruption whatever federalreserve Where can we find a list of these public companies?
Source: NPR - 🏆 96. / 63 Read more »

Los Angeles Lakers' small business PPP loan 'outrageous,' Mnuchin says - Business InsiderTreasury Secretary Mnuchin said on CNBC Tuesday that he's a big fan of the team, but not of it receiving a loan meant for small businesses. I don't think it's right that we make companies spend their reserves for a government decision to shut down the economy. This wasn't due to bad business practices. They should be entitled the same programs every other business is afforded. If notenough money that's on Congress. Man the players get more than that what they need that for? Absurd. Good job Lakers 👏🏽👏🏽👏🏽👏🏽
Source: BusinessInsider - 🏆 729. / 51 Read more »