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Stock impact report

Shake Shack, Ruth’s Chris, Potbelly, and Others Might Need to Give Loans Back, Says SBA [The Motley Fool]

Shake Shack, Inc. Class A (SHAK) 
Last shake shack, inc. class a earnings: 2/24 04:05 pm Check Earnings Report
Company Research Source: The Motley Fool
WhileShake Shake(NYSE:SHAKalready voluntarily gave back the $0 millionPotbellyNASDAQ:PBPBRuth's Hospitality GroupNASDAQ:RUTHThe PPP was earmarked to help small American businesses, not large, publicly traded companies with hundreds of millions or billions of dollars in value. However, the aid bill's wording created a massive loophole, already dubbed the "Shake Shack loophole" in the media because of its highest-profile user.Image source: Getty Images.The legislation was written to give emergency funding to small enterprises with 00 employees or less at a single location, including individual franchisees running restaurants independently. However, the bill specified 00 workers per "location" rather than per "business," enabling restaurant companies and others with many small branches to apply for and receive loans.The PPP distributed $9 billion in loans, exhausting the allocated money last week. Average loan size started out at $0,000, falling to $06,000 toward the end. While many of t Show less Read more
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