California News Online

Business and News from The Golden State

Report: Small Business Administration Loans Secured by Billion-Dollar Corporations

Buzzfeed: Loans Intended for Small Restaurants and Retailers Going to Wall Street Companies

Edited by JOHN DALY

Big business corporations are taking the Small Business Administration loans intended to help keep small businesses alive during the Coronavirus emergency.

While small mom and pop restaurants in Southern California and around the rest of the country furlough employees and shut down  — some permanently — corporate restaurants like Shake Shack, Potbelly and Ruth Chris Steakhouse have secured millions of dollars in loans.

The report ran in Buzzfeed. Check out the article here:


This entry was posted on April 21, 2020 by in News.

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