As deadline arrives for returning small-business loans, public companies have given back $500 million so far, kept $900 million

The Treasury Department says Paycheck Protection Program loans are not meant for “a public company with substantial market value and access to capital markets.”

FactSquared has 61 public companies giving back $425 million in loans as of Monday, but its tally doesn’t include giant car seller AutoNation Inc. AN, +9.83% , which said in late April that it was returning $77 million in PPP loans. What’s more, most of the publicly traded companies that received PPP loans rank as micro-cap stocks, according to FactSquared’s data. So they might not fit the bill when it comes to the Treasury’s targeting of borrowers with “substantial market value and access to capital markets.” A micro cap is often defined as a stock with a market value of $300 million or less.

Three hotel companies tied to Dallas businessman Monty Bennett also reversed themselves after applying for $126 million and initially saying they planned to “keep all funds received under the PPP."

And this is why the little guys are still struggling.

Working as planned!

waaaaahat Banks can turn around and demand repayment from small business owners, so what gives here?

Every university that gets an endowment needs to return the money they received from the CARES act.

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