Public Companies Rush To Repay Paycheck Protection Program Loans Amid Government Pressure

“The certification language in #PPP is real & Enforceable,” U.S. Senator Marco Rubio, a primary political force behind the program, said on twitter on Monday. “That is why any company that hasn’t been harmed by the current economic conditions & nevertheless applies for & receives #PPP has a big problem. They made a false certification to the federal government.”

“the uncertainty of current economic conditions makes necessary the loan request to support the ongoing operations of the eligible recipient.’’ “Certain people on the PPP may have not been clear in understanding the certification so we will give people the benefit of the doubt … If you pay back the loan right away you won’t have liability to the SBA and to Treasury but there are severe consequences for people who don’t attest properly to this certification.”

After the guidance was issued on Thursday, publicly traded Ruth’s Hospitality said it would return the $20 million it received under the program. The company also had been under public pressure, which included a widely-circulated petition, to return the funds.a Colorado producer of perforating systems for the oil industry that was one of the more highly valued publicly traded companies to participate in the PPP, on Thursday returned the $6.

I would love a full list of big businesses that applied for the money. That way I can change my buying habits.

They gotta give back.

Govt pressure, or public pressure? Boycott $RUTH

Ruth’s got caught gaming the system. Done with them.

As they should! That money should have gone to SMALL businesses struggling to stay afloat.

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