Government Relief Loans to Restaurant Chains Draw Complaints

Shake Shack, one of a number of national chains that received loans meant for small businesses, said it will return its loan to give smaller restaurants a chance to get government money.

  • Published 20 April 2020

[template id="245201"] Some big restaurant chains have obtained loans under a small-business relief program, leading business groups to cry foul even though the loans are within the guidelines of the lending program. Shake Shack, Ruth’s Chris Steakhouse and Potbelly’s all announced last week they’d obtained the maximum $10 million loans under the Paycheck Protection Program. The $350 billion program, designed to help businesses stay afloat during the coronavirus crisis, ran out of money Friday, leaving… Read at AP News