Publicly traded companies have reportedly received hundreds of millions of dollars in loans from Congress' relief fund intended to help small businesses during the coronavirus pandemic.
The Associated Press on Tuesday reported that at least 75 companies that received aid from the Paycheck Protection Program, which was a part of Congress' recent aid package but has quickly run out of its $349 billion, are publicly traded, and "some had market values well over $100 million." The companies reportedly received a combined $300 million in loans. Additionally, "25 percent of the companies had warned investors months ago — while the economy was humming along — that their ability to remain viable was in question," AP writes.
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