The countdown is on for publicly traded and big companies to return Payment Protection Program loans meant to help small businesses and self-employed people to weather the economic shutdown caused by the coronavirus pandemic. U.S. Treasury Secretary Steven Mnuchin has given these big companies until May 7 to return loans “in good faith.”
Related: Even Elite Private Schools With Huge Endowments Got PPP Small Business Loans
Here Are All The Companies Returning PPP Small Business Loans By May 7
U.S. Treasury Department said last week that companies taking loans in excess of $2 million will be subject to federal audits and possible criminal charges. Companies and institutions have until May 7 to return loans with no questions asked.
Even elite private schools with huge endowments took PPP loans. Other private institutions considered taking the taxpayer-backed loans, but then decided the funds weren’t intended for them. Nick Saracino, a spokesman for Francis Parker, a private boarding school in Chicago, said “those particular funds were not intended for institutions like us.”
U.S. Treasury Secretary Steven Mnuchin is calling on private schools with “significant endowments” to return PPP loans they have received.
“It has come to our attention that some private schools with significant endowments have taken #PPP loans. They should return them,” Mnuchin wrote on Twitter Friday.
Metroplex Social has compiled a list of publicly traded and privately held big companies that have committed to return PPP loans so far, and here they are:
Companies Returning PPP Small Business Loans By May 7
| COMPANY, FIRM, INSTITUTION | PPP TOTAL LOAN VALUE TO BE RETURNED |
|---|---|
| Cytosorbents Corporation CTSO (NASDAQ) | $1,400,000.00 |
| Energy Services of America Corporation ESOA (OTC) | $3,300,000.00 |
| Castlight Health, Inc. CSLT (NYSE) | $10,000,000.00 |
| Aviat Networks, Inc. AVNW (NASDAQ) | $5,911,000.00 |
| Nathan’s Famous, Inc. NATH (NASDAQ) | $1,224,645.00 |
| Ashford Hospitality Trust, Inc. AHT (NYSE) | $45,900,000.00 |
| Braemar Hotels & Resorts, Inc. BHR (NYSE) | $18,500,000.00 |
| IDT Corporation IDT (NYSE) | $10,000,000.00 |
| Ashford Inc. AINC (NYSE MKT) | $3,300,000.00 |
| TransMedics Group, Inc. TMDX (NASDAQ) | $2,249,280.00 |
| BioLife Solutions, Inc. BLFS (NASDAQ) | $2,175,320.00 |
| Windtree Therapeutics, Inc. WINT (OTC) | $546,600.00 |
| Fiesta Restaurant Group, Inc. FRGI (NASDAQ) | $5,000,000.00 |
| Ashford Inc. AINC (NYSE MKT) | $12,800,000.00 |
| Hallmark Financial Services, Inc. HALL (NASDAQ) | $8,311,000.00 |
| Manning & Napier, Inc. MN (NYSE) | $6,732,818.00 |
| Graham Corporation GHM (NYSE) | $4,599,003.00 |
| Ashford Hospitality Trust, Inc. AHT (NYSE) | $30,100,000.00 |
| Braemar Hotels & Resorts, Inc. BHR (NYSE) | $15,800,000.00 |
| CalAmp Corp.CAMP (NASDAQ) | $10,000,000.00 |
| Shake Shack Inc. SHAK (NYSE) | $10,000,000.00 |
| ADMA Biologics, Inc. ADMA (NASDAQ) | $5,400,000.00 |
| Collectors Universe, Inc. CLCT (NASDAQ) | $4,200,000.00 |
| Aquestive Therapeutics, Inc. AQST (NASDAQ) | $4,830,000.00 |
| Ultralife Corporation ULBI (NASDAQ) | $3,459,278.00 |
| J. Alexander’s Holdings, Inc. JAX (NYSE) | $15,100,000.00 |
| Escalade, Incorporated ESCA (NASDAQ) | $5,627,500.00 |
| OptiNose, Inc. OPTN (NASDAQ) | $4,400,000.00 |
| U.S. Auto Parts Network, Inc. PRTS (NASDAQ) | $4,107,388.00 |
| Ballantyne Strong, Inc BTN (NYSE MKT) | $3,173,900.00 |
| BK Technologies Corporation BKTI (NYSE MKT) | $2,196,335.00 |
| Kura Sushi USA, Inc. KRUS (NASDAQ) | $5,983,290.00 |
| Fiesta Restaurant Group, Inc. FRGI (NASDAQ) | $10,000,000.00 |
| Wave Life Sciences Ltd. WVE (NASDAQ) | $7,234,890.00 |
| Ruth’s Hospitality Group, Inc. RUTH (NASDAQ) | $20,000,000.00 |
| Potbelly Corporation PBPB (NASDAQ) | $10,000,000.00 |
| Lindblad Expeditions Holdings, Inc. LIND (NASDAQ) | $6,600,000.00 |
| AutoNation | $77,000,000.00 |
| Sweetgreen | $10,000,000.00 |
| NBA’s Los Angeles Lakers | $4,600,000.00 |
| Axios (news site) | $4,800,000.00 |
| Manning & Napier (wealth management firm) | $6,700,000.00 |
| TOTAL SO FAR: | $336,262,247.00 |
Here Are All The Companies Returning PPP Small Business Loans By May 7
Here’s the entire list of companies that have committed to return Payment Protection Program small business loans by May 7.
More on Metroplex Social:
- Even Elite Private Schools With Huge Endowments Got PPP Loans
- ENTIRE List of Publicly Traded Companies That Got the BIGGEST PPP Loans
- Taco Cabana, Pollo Tropical Returning $15 MILLION PPP Loan Meant For Small Businesses
- Publicly Traded Companies Took More Than $1 BILLION In PPP Loans From Actual Small Businesses
- NBA’s Los Angeles Lakers Got $4.6 MILLION PPP Loan, Quickly Returned It
- Dallas Hotelier Monty Bennett Plans To Keep $126.4 MILLION PPP Loans
- Small Businesses Suing Chase, Big Banks For Shuffling Loans To Make Bigger Commissions
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