A dozen of the public companies that received coronavirus hardship loans said they would return the money amid mounting scrutiny, while some of the smaller public companies said they needed the money to keep employees from losing their jobs.
The decisions are the latest twists in the rushed and turbulent rollout of the federal government’s Paycheck Protection Program, a portion of last month’s $2 trillion stimulus package intended to help small businesses and limit layoffs through the coronavirus pandemic. Lawmakers and independent...
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Public Companies Got $500 Million in Small Business LoansMany of the recipients of coronavirus aid from the U.S. Small Business Administration are small-cap stocks. About a third of the 124 companies have reported more than $100 million in annual revenue, a Journal analysis found. The program had a specific list of criteria. These companies met that criteria. Ease up the the spikes and pitchforks. They followed the rules. So basically, the companies with attorneys on the payroll. This is crazy
Source: WSJ - 🏆 98. / 63 Read more »
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.
Source: CNN - 🏆 4. / 95 Read more »
Public Companies Rush To Repay Paycheck Protection Program Loans Amid Government PressureRuth's Hospitality, DMC Global, Wave Life Scienes and Sweetgreen have said they are returning their emergency small business loan funding. 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. Ruth’s got caught gaming the system. Done with them.
Source: Forbes - 🏆 394. / 53 Read more »
After Shake Shack controversy, Treasury says public companies should repay loansThe Treasury Department issued new guidance on Thursday encouraging publicly-traded companies to return their coronavirus stimulus loans by May 7 as Shake Shack and other public companies have faced backlash for receiving funds meant for small businesses. While small business owners struggled to secure
Source: YahooNews - 🏆 380. / 59 Read more »
After Shake Shack controversy, Treasury says public companies should repay loansThe new guidance came as Congress approved another round of funding for small business loans. Was the confusion they thought that if they were SBA qualified because they are just multi-million dollar companies instead of multi-billion dollar companies? Do you think liberals can muster up the courage to go out and support government designated 'non-essential' businesses? Right now it's okay for liberals to shop at virus-free dispensaries, liquor stores, grocery stores, walmart/costco, gas stations, home improvement stores etc. They are getting caught Dorian the swamp my ass
Source: ABC - 🏆 471. / 51 Read more »