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


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.
CNBC similarly writes that research from Morgan Stanley shows at least $243.4 million of the $349 billion was allocated to publicly traded companies, and DMC Global was reportedly among 15 companies with market values above $100 million to receive loans.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
At least one large company recently announced it would be returning the money it received amid criticism, as Shake Shack announced Sunday it would return its $10 million loan; executives said they're now aware that "the first phase of the PPP was underfunded and many who need it most haven't gotten any assistance."
Though the Paycheck Protection Program recently ran out of money, Congress reportedly reached a deal on Tuesday for additional funding.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
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.
-
Today's political cartoons - April 20, 2025
Cartoons Sunday's cartoons - Pam Bondi, retirement planning, and more
By The Week US
-
5 heavy-handed cartoons about ICE and deportation
Cartoons Artists take on international students, the Supreme Court, and more
By The Week US
-
Exploring the three great gardens of Japan
The Week Recommends Beautiful gardens are 'the stuff of Japanese landscape legends'
By The Week UK
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
By Peter Weber, The Week US
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
By Justin Klawans, The Week US
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
By Peter Weber, The Week US
-
Trump's China tariffs start after Canada, Mexico pauses
Speed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
By Peter Weber, The Week US
-
Chinese AI chatbot's rise slams US tech stocks
Speed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
By Peter Weber, The Week US
-
US port strike averted with tentative labor deal
Speed Read The strike could have shut down major ports from Texas to Maine
By Peter Weber, The Week US
-
Biden expected to block Japanese bid for US Steel
Speed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
By Peter Weber, The Week US
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US