Data from FactSquared, a Washington D.C.-based data analytics firm, shows the full extent that public companies successfully navigated emergency funding.
have also come under fire after reports that bigger customers got better treatment and were generally much more successful in tapping the PPP than small mom-and-pop businesses, leading to allegations that lenders unfairly prioritized some clients. The loans are forgiven if business owners can show they used the money for approved purposes like payroll.modified an artificial intelligence program called Margaret to find mentions of PPP in regulatory filings.
"We had all this information we were already looking at it, we just had to put the AI on it," Frischling said in a phone interview. "We're confident that if a company disclosed it in a filing, we got it.", which says it applied for — and will return — $77 million from the PPP, because the firm hasn't disclosed the moves in regulatory filings., claiming that they had limited access to other sources of money and the program would help them to pay their employees.
The same goes for the three companies affiliated with Monty Bennett. Ashford Hospitality Trust, where Bennett is chairman and a large shareholder, was able to treat each individual hotel property as a separate business when filing for PPP. They applied for 117 of the loans, getting $38 million so far, the most disclosed by any company. Loans for another $38 million were still being processed.
"We plan to keep all funds received under the PPP, which were provided as a result of the application process and other specific requirements established for our industry by Congress," the Bennett-run companies said April 25 in a
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