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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 Son

More 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. 


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