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House Reps Names, Shames Five Public Companies For Taking PPP Loans Meant For Small Businesses

Video Credit: Wochit
Published on May 9, 2020 - Duration: 00:36s

House Reps Names, Shames Five Public Companies For Taking PPP Loans Meant For Small Businesses

Representatives from the US House blasted five publicly traded companies for taking Paycheck Protection Program loans meant for small businesses.

MiMedx, Quantum, EVO Transportation & Energy Services, Gulf Island Fabrication, Universal Stainless, and Alloy Products were named.

According to Business Insider, the House subcommittee on the coronavirus crisis demanded they return loans received from the treasury.

Of the six named companies, only MiMedx has agreed to return its $10 million loan so far.

In total only 48 public companies of the 387 that received PPP loans have returned the money.

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