Most publicly listed companies keep U.S. small-business aid loans

[Eugene]

Source: Reuters

SUSTAINABLE BUSINESS MAY 24, 2020 / 10:52 AM / UPDATED 8 HOURS AGO

Most publicly listed companies keep U.S. small-business aid loans

Joshua Franklin, Lawrence Delevingne
2 MIN READ

NEW YORK/BOSTON (Reuters) - More than four-fifths of publicly listed companies that received emergency small-business loans from the U.S. government have held onto them, sticking with a certification that they need the money, according to data from market research firm FactSquared.

Companies that should not have applied for the loans because they had enough resources to get by on their own had until May 18 to return the money without facing any sanctions. Those that returned the money announced it through regulatory filings, which are required within four business days of a major corporate event.

Sixty-eight companies returned $435.8 million in loans, out of a total of 424 public companies that were granted loans totaling $1.35 billion, based on a review of corporate filings by FactSquared as of May 22.

Some 76 public companies that took PPP loans and have not said they will return them had enough cash and cash equivalents to cover operating costs until at least June, according to a Reuters analysis, which was based on companies’ most recent earnings and companies tracked by FactSquared. Of those companies, 22 received loans of at least $2 million.

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Read more: https://www.reuters.com/article/us-health-coronavirus-ppp-companies/most-publicly-listed-companies-keep-u-s-small-business-aid-loans-idUSKBN2300JT

[Turbineguy]

1. Yes.

Because the fewer people employed, the better business will be.

[jls4561]

2. I would iike to see a list of these companies.