11 major companies that have returned millions of dollars acquired through a government relief program meant for small businesses
The $349 billion Paycheck Protection Program launched in early April was meant to bolster struggling small businesses . It was aimed at providing businesses with fewer than 500 employees with two-year, low-interest loans to cover salaries, wages, benefits, and certain taxes. The program would provide up to $10 million per company. Hundreds of publicly traded companies received funding through the federal government's Paycheck Protection Program. The program ran out of money less than two weeks after it was introduced. On April 23, the Treasury Department said publicly traded companies have two weeks to give back federal relief loans intended for small businesses. Here is a list of major companies, from Shake Shack to AutoNation, that have already confirmed they're returning the funds. Visit Business Insider's homepage for more stories . This is a developing story. Check back for updates. SEE ALSO: The coronavirus outbreak has triggered unprecedented mass layoffs and furloughs. Here are the major companies that have announced they are downsizing their workforces.
11 major companies that have returned millions of dollars acquired through a government relief program meant for small businesses
The $349 billion Paycheck Protection Program launched in early April was meant to bolster struggling small businesses . It was aimed at providing businesses with fewer than 500 employees with two-year, low-interest loans to cover salaries, wages, benefits, and certain taxes. The program would provide up to $10 million per company. Hundreds of publicly traded companies received funding through the federal government's Paycheck Protection Program. The program ran out of money less than two weeks after it was introduced. On April 23, the Treasury Department said publicly traded companies have two weeks to give back federal relief loans intended for small businesses. Here is a list of major companies, from Shake Shack to AutoNation, that have already confirmed they're returning the funds. Visit Business Insider's homepage for more stories . This is a developing story. Check back for updates. SEE ALSO: The coronavirus outbreak has triggered unprecedented mass layoffs and furloughs. Here are the major companies that have announced they are downsizing their workforces.