The US has barred large companies from receiving loans that are meant for small businesses drastically affected by Covid-19 after public uproar, prompting several companies to return the money. – EPA pic, April 24, 2020.
US agencies tightened the rules on a popular emergency lending programme for small businesses yesterday, and gave large corporations two weeks to return funds following a public uproar. Companies that inappropriately received funding under the Paycheck Protection Programme have until May 7 to return the funds to the US Small Business Administration, the Treasury Department said in the updated guidelines.
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