A new study shows over 100 public companies got $550 million of federal loans intended for 'small businesses'
released by S&P Global Market Intelligence found that 134 publicly traded companies got access to $550.6 million of federal stimulus loans for small business.
Ashford Hospitality Trust claimed the largest PPP loan, of $30.1 million, followed by Meritage Hospitality Group, which claimed $29.1 million. Ruth's Hospitality Group also racked up a large loan, of $20 million. JPMorgan Chase processed $145.9 million worth of PPP loans for publicly traded companies — the most of any bank.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
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
Read more »
As others cave, several public companies that took small business loans are not giving back the cashWhile well-known businesses like Ruth's Chris and Shake Shack have announced plans to return PPP loans, several public companies tell us they are not giving back the cash.
Read more »
Several public companies who took small business rescue loans say they are not giving back the cashSix companies contacted by CNBC who took the loans said they had no plans to return the funds.
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.
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
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.
Read more »