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.

Let go of your insecurities. Let go of your pain. You are limitless. Nothing is holding you back. Smile. Love. Laugh. Don't forget to live.

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Here are the public companies that got coronavirus aid meant for small businessesMore than 100 publicly traded companies have received hundreds of millions in coronavirus aid meant for small businesses. Wondering which ones? We have a list:
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Treasury says public companies should repay their PPP loansWhen the $349 billion Paycheck Protection Program quickly ran dry, big companies that landed large loans drew the ire of small businesses and their advocates. Some have announced plans to return the funds. Now the government is hoping the others pay up.
แหล่ง: CNN - 🏆 4. / 95 อ่านเพิ่มเติม »

Large Public Companies May Be Shut Out Of New PPP Funds After Shake Shack Fallout71 publicly traded companies received PPP loans before its original $350 billion in funding ran out last week, Forbes found. theothersarahh *should theothersarahh StayHome COVID19 theothersarahh As they should be
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Treasury gives public companies 2 weeks to give back PPP loans: report - Business InsiderPublicly traded companies have 2 weeks to give back loans intended for small businesses or potentially face 'severe consequences,' Treasury Department reportedly says And the banks will again get 5% commission on that money when they pass it over to the small businesses? Good. Yes..it is totally their fault they got those loans...nothing to do with the process. Cut me a break...you guys need to vet what you’re doing
แหล่ง: BusinessInsider - 🏆 729. / 51 อ่านเพิ่มเติม »