Some US companies will keep small business loans, defying backlash [MSN Money]
ZAGG (ZAGG)
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Source: MSN Money
(Reuters) - Several publicly listed compani worth hundreds of millions of dollars said on Friday they had no plans to return funding they received under a U.S. governmt program providing emergcy loans to small busins, ev though some of their peers have started to do so.© Reuters/JONATHAN ERNSTThe loans are digned to support smaller busins - defined as having no more than 500 employe - ranging from hair drsers to landscapers to help cover employee payroll and rt, as large swaths of the economy have be shut down to keep the coronavirus from spreading.Load ErrorThe U.S. Treasury Departmt said on Thursday that "big public compani with accs to capital" would have a hard time proving they really needed the coronavirus relief funds, dubbed Paycheck Protection Program (PPP) loans. It updated its eligibility criteria, and gave compani that do not qualify until May 7 to return the aid.But others are holding fast.MiMedx, which took a $0 million loan, said it was in compliance with the Treasury's
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