At least 15 companies with market values over $100 million got loan money intended for small businesses

small business.
(Image credit: Scott Olson/Getty Images)

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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Brendan Morrow

Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.