Public Companies took far more in small business  loans than previously thought

Public Companies took far more in small business loans than previously thought

Large public companies were able to secure loans meant for small businesses through their subsidiaries and bank connections, in order to sidestep rules capping funding at $10m. Three companies affiliated with Dallas-based hotel group Monty Bennet applied for 117 separate loans and received $38m. AutoNation said it will return $77 million it took from the PPP.

808HIvibes
808HIvibes
Barry
Barry 0 months

Didn't someone have to approve these?

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