IPFS News Link • Business/ Commerce
Public companies took far more small business loans than first thought -- here's the latest tall
• https://www.cnbc.com by Hugh SonMore than 220 public companies applied for at least $870 million from the government program that was billed as emergency funding for small businesses without access to other sources of capital, according to data analytics firm FactSquared.
That includes $126.4 million for three public companies affiliated with Texas hotelier Monty Bennett. One of those firms, Ashford Hospitality Trust, applied for $76 million in 117 separate loans, according to regulatory filings.
Amid pressure, 13 companies have returned $98 million to the Paycheck Protection Program so far.