Hundreds of public companies hold on to small business loans as deadline to return money nears

  • 📰 CNBC
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The largest public companies that tapped the government’s emergency relief fund for small businesses nearly all had ready access to other forms of capital, according to a CNBC analysis of filings.

, it filed a prospectus to issue shares, and ultimately raised $10.75 million last month from stock sales., a maker of diabetes medication, which reaped $39.9 million from share sales in February. The Chicago-based company got $5.1 million from the PPP on April 22, and later decided to return $900,000 of that, keeping the rest for payroll and other expenses, the firm said., a Texas-based maker of fiber-optic networking products, is another company that has ready access to capital markets.

Steven Mnuchin, U.S. Treasury secretary, center, walks through the U.S. Capitol in Washington, D.C., U.S., on Sunday, March 22, 2020.Cutera, the beauty device maker, struck a similar tone this month in a quarterly filing. The company said that its certification that it needed the PPP was "subject to interpretation" after the SBA updated guidelines in late April.

Representatives from Cutera, Xeris Pharmaceuticals and Applied Optoelectronics didn't immediately respond to a request for comment. The company declined to respond to follow-up questions about its suitability for the program given its demonstrated ability to raise funds from investors.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Five-eye alliance should sue the Chinese Communist Party for claims

All those greedy big boys shouldn't be helped at all 😡. They have access to the capital markets and they should raise the money there and not compete with the SMEs, which suffered most.

That’s dirty and slimy. Small biz like mine need that money to survive. Despicable.

SURPRISE!

This is mildly infuriating.

mr_jettlife

This is disgusting! If ppl want to risk gathering and protesting, protest this nonsense!

This is what happens when the next day POTUS removes oversight realDonaldTrump GOP CNN cnnbrk FoxNews foxandfriends

Fccckkkiiinngg Grreeeedddyy Baaassstttaaarrrrddsss!!!!!!!

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

News Organizations Sue For Names Of Recipients Of Coronavirus Small Business Relief LoansThe Washington Post, The New York Times, Pro Publica, Dow Jones & Co. and Bloomberg LP filed a lawsuit against the Small Business Administration on Tuesday, seeking the identities of private bu… sic 'em We need to see which Rich jerks republicans took care of!
Source: DEADLINE - 🏆 109. / 63 Read more »

U.S. Says It Will Trust Small Business Owners When They Say They Need LoansThe Trump administration says it will presume borrowers have met the certification requirements for forgivable small-business loans under $2 million in the Paycheck Protection Program. 'small business' 🙄 Small business my azz. 🇹🇷🇹🇷🇹🇷 come on Turkish Stock Marketing ( Bist100 / Xu100 ) So u know how there were WWII movies-DO NOT MAKE ANY movies of this pandemic NO!&no fall shows (if we get them)of this COVID19 &NO PPL WEARING MASKS! NO! film & tv R OUR ESCAPISM! Leave it at that!! CoronavirusOutbreak
Source: WSJ - 🏆 98. / 63 Read more »

Stock picks to buy: 25 cheap small-cap companies, possible M&A targets - Business InsiderThese 25 under-the-radar companies have been neglected for years — but BTIG says that makes them tempting M&A targets with big stock upside
Source: BusinessInsider - 🏆 729. / 51 Read more »