‘confusing’ small-business loan program needs to change to provide a lifeline to ailing restaurants
Posted on AllSides April 20th, 2020
From The Center
Shake Shack Inc.’s top executives are calling for improvements to the tangled process of applying for a loan from the Paycheck Protection Program that is meant to provide a lifeline to restaurants hit hard by the COVID-19 outbreak.
The PPP is part of the $2.2 trillion CARES Act.
The burger chain SHAK, +5.26% announced early Monday that it is returning the $10 million loan it was granted after it secured funding on Friday. The company decided to apply for the loan in the first place after trying to make sense...
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