Here's how big companies used a loophole to get Paycheck Protection Program loans [MSNBC.com]
Shake Shack, Inc. Class A (SHAK)
Last shake shack, inc. class a earnings: 2/24 04:05 pm
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Source: MSNBC.com
Raymond BoydSome big restaurant chains have gotten called out in recent days for using a loophole in the $2.2 trillion coronavirus relief law to access loan money earmarked for smaller businesses.Potbelly Sandwich Shop, for example, got a $10 million loan from the Paycheck tection gram — the upper lending limit. Ruth's Chris Steak House got $10 million for each of two subsidiaries.And it's not just restaurants. Other large businesses like hotel operators and energy companies have gotten loans for millions of dollars, according tonews reportsThe $349 billion in program fundingran out on Thursday"There have been some people, some companies approved that I believe should not have been under the intent of the law," Sen. Marco Rubio, R-Fla., and chairman of the Senate Committee on and Entrepreneurship,told CNBCVIDEO7:3907:39Shake Shack CEO Randy Garutti on returning $10M government loanSquawk on the StreetHamburger restaurant chain Shake Shack is among the companies to have received a $10
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News
- Shake Shack to Participate in Upcoming December Investor ConferencesBusiness Wire
- I tried the biggest burgers at 5 fast-food chains and ranked them from worst to best [Business Insider]Business Insider
- Should Shake Shack's (SHAK) Revenue Outlook and CFO Departure Prompt Investor Attention Now? [Yahoo! Finance]Yahoo! Finance
- Shake Shack (NYSE:SHAK) had its "strong-buy" rating reaffirmed by analysts at Raymond James Financial, Inc..MarketBeat
- Shake Shack (NYSE:SHAK) had its "hold" rating reaffirmed by analysts at Jefferies Financial Group Inc..MarketBeat
SHAK
Earnings
- 10/30/25 - Beat
SHAK
Sec Filings
- 11/26/25 - Form 4
- 11/25/25 - Form 144
- 11/25/25 - Form 8-K
- SHAK's page on the SEC website