Business groups are pleading for changes to the Paycheck Protection Program, which has come under mounting criticism for giving money to big companies.
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Ruth’s Chris Steak House Says It Will Pay Back $20 Million Federal Loan
The restaurant chain was harshly criticized for taking the money despite having other means of funding not available to mom and pop businesses.
Banks Funneled Stimulus Funds To Largest Companies To Fatten Fees, Lawsuits Say
Small business owners are suing Wells Fargo and other big banks, saying they “rigged” the coronavirus Paycheck Protection Program to favor large companies.
Publicly Traded Companies Got $300 Million In Small Business Loans: AP Investigation
Neither the Trump administration nor the lending industry has disclosed a list of Paycheck Protection Program beneficiaries.
Shake Shack Returns $10 Million Government Loan Meant For Small Businesses
The company said it got coronavirus relief funds because they were open to any restaurant chain with less than 500 employees at a single location.
Deal On Small Business Loan Package Expected This Week, Mnuchin Says
The tentative agreement would offer another $300 billion in loans, as well as funds for hospitals, coronavirus testing and disaster relief.
The Paycheck Protection Program Hasn’t Served Restaurants Well
The hardest-hit industry is not getting the most help from the new anti-layoff initiative.
The Stimulus Isn’t Enough
While the federal government is making big companies whole during the COVID-19 crisis, working families and small businesses will suffer.
Tribes Aren’t Getting COVID-19 Aid Because Federal Agencies Are Flailing
“They don’t know how to interact in the appropriate way with tribes and they’re just not getting the job done,” says Sen. Tom Udall.
As Paycheck Protection Program Runs Out Of Money, Many Firms Haven’t Seen Any
Lawmakers say they want to add funding, but they’re fighting about how to do it.