Treasury says public companies should repay their PPP loans [MSN Money]
Ruth's Hospitality Group, Inc. (RUTH)
Last ruth's hospitality group, inc. earnings: 2/21 07:00 am
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Source: MSN Money
© Andrew Harrer/Bloomberg/Getty ImagWh the $9 billion Paycheck Protection Program quickly ran dry, the big compani that landed large loans drew the ire of small busins and their advocat.Load ErrorSmall busins ownerssued their banksShake ShackKura Sushi USAprivately held SweetgreNow the governmt is hoping the others pay up.Under new Treasury guidance issued Thursday"It is unlikely that a public company with substantial market value and accs to capital markets will be able to make the required certification in good faith, and such a company should be prepared to demonstrate to Administration, upon requt, the basis for its certification," according to the Treasury guidance released Thursday. " ... Any borrower that applied for a PPP loan prior to the issuance of this guidance and repays the loan in full by May 7, 00, will be deemed by SBA to have made the required certification in good faith."In other words, the Treasury wants its money back.And later that day, Ruth's Chris said it woul
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