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Senate close to deal on more coronavirus funds for small businesses as critics say too much went to big firms [Los Angeles Times (CA)]

Shake Shack, Inc. Class A (SHAK) 
Last shake shack, inc. class a earnings: 2/24 04:05 pm Check Earnings Report
Congressional leaders and the White House were close to a deal Monday over an emergency coronavirus package to replenish a small business assistance program that ran out of funds last week, even as critics said misuse of the popular loan program by large companies had squeezed out smaller businesses. The now-depleted Paycheck Protection Program was designed to provide forgivable loans to small businesses if they kept workers on the payroll during the economic shutdown caused by the pandemic. It would receive an additional $310 billion under the spending deal being negotiated, with a portion set aside to be lent by smaller banks in an effort to help smaller businesses that may have been shut out of the initial $349-billion disbursement. The package would add $60 billion to a separate emergency loan program for small businesses that also is out of money, $75 billion for hospitals, and $25 billion to increase COVID-19 testing. Senate and House leaders and Treasury Secretary Steven T. Mnu Show less Read more
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