November 29, 2020

Shake Shack to return small business loan after uproar

Shake Shack plans to return a $10 million loan it received under an emergency small business rescue program, amid a growing backlash against big businesses that got the money before $350 billion in funding lapsed last week.

The burger chain was just one of several large restaurant operators and publicly traded companies that secured tens of millions of dollars in “Paycheck Protection Program” loans before the Trump administration announced Thursday that the funding was exhausted because of the high demand.

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