Mobile Menu

  • Facebook
  • Instagram
  • Twitter
  • YouTube
en English
ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchit Italianes Spanish
  • 🍹 LOCAL RESTAURANTS
    • DENTON
    • FLOWER MOUND
    • FRISCO
    • GARLAND
    • LEWISVILLE
    • MCKINNEY
    • PLANO
    • PROSPER
    • 🌮 ALL Restaurant News
  • 📍 LOCAL NEWS
  • Kids + Family
    • DIY HAND SANITIZER
    • NATIONAL PARKS – VIRTUAL TOUR
    • 🧪 KIDS SCIENCE
    • EDUCATIONAL VIDEOS
    • 151 FREE HOMESCHOOL IDEAS
    • ART MUSEUMS – VIRTUAL TOUR
    • DIY BABY WIPES
    • TOILET PAPER ROLL CRAFTS
    • 🍔 2020 KIDS EAT FREE LIST
  • 💰 SAVE MONEY
    • HOME + GARDEN TIPS
  • 📩 STAY IN THE LOOP
  • 📣 Submit A Story
  • PARTNERSHIPS
  • MEET THE TEAM
  • ✈️ Travel
    • FREE Guide: Ultimate Texas Bucket List
  • ✨ Culture
    • Dallas Culture
    • Sports and Entertainment
    • 📍 Places To Go
      • FREE Guide: Ultimate Texas Bucket List
      • Spring Break
    • Charities and Causes
  • 🥳 Celebrate!
    • New Years Eve
    • Super Bowl Sunday!
    • Valentine’s Day
    • St. Patrick’s Day
    • Spring Break
    • Thanksgiving
    • Christmas
  • Shopping
  • 🏠 Your Community
    • dallas
      • dallas tourist spots
      • dallas design district
      • deep ellum
      • downtown dallas
      • highland park
      • preston hollow
      • state fair of texas
      • trinity groves
    • fort worth
      • fort worth museum
      • fort worth stockyards
      • fort worth water gardens
      • things to do in fort worth
    • arlington
    • irving
      • las colinas
    • denton
    • frisco
      • frisco sports
      • the star
    • plano
      • legacy west
      • things to do in plano
    • mckinney
    • flowerplex
      • double oak
      • flower mound
      • highland village
      • lantana
      • lewisville
      • argyle
      • bartonville
    • corinth
    • hickory creek
    • lake dallas
    • little elm
    • north dfw
      • addison
      • allen
      • carrollton
      • colleyville
      • the colony
      • coppell
      • fairview
      • farmers branch
      • garland
      • grapevine
      • roanoke
      • richardson
      • rockwall
      • southlake
      • terrell
    • waxahachie
    • south dfw
      • cedar hill
      • crowley
      • grand prairie
      • mansfield
    • mid-cities
      • euless
    • ellis county
      • ennis
    • decatur
    • palo pinto
      • downtown mineral wells
      • mineral wells
      • mineral wells state park
      • possum kingdom lake
  • Menu
  • Skip to right header navigation
  • Skip to primary navigation
  • Skip to secondary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Before Header

en English
ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchit Italianes Spanish
  • Facebook
  • Instagram
  • Twitter
  • YouTube

Metroplex Social

Metroplex Social is your daily source for breaking news, trending topics, culture, entertainment, and more!

Header Right

  • Local News
  • SEARCH Local
    • SEARCH Local
    • Get Your FREE Local Guide
    • Submit a Business
    • Submit a Charity
  • Submit a Story
  • Meet Our Team
  • Partnerships
  • Your Community
    • dallas
      • bishop arts district
      • dallas arts district
      • downtown dallas
      • highland park
      • preston hollow
      • turtle creek
    • fort worth
      • sundance square
      • benbrook
      • haltom city
      • kennedale
      • north richland hills
    • arlington
    • irving
      • las colinas
    • denton
    • flowerplex
      • flower mound
      • highland village
      • argyle
      • bartonville
      • double oak
      • lantana
      • lewisville
    • grapevine area
      • grapevine
      • colleyville
      • southlake
      • roanoke
    • lake cities
      • corinth
      • hickory creek
      • lake dallas
    • mid-cities
      • euless
    • north dfw
      • addison
      • allen
      • carrollton
      • the colony
      • coppell
      • fairview
      • farmers branch
      • little elm
      • Melissa
      • parker
      • richardson
    • south dfw
      • cedar hill
      • crowley
      • garland
      • grand prairie
      • rockwall
      • terrell
    • frisco
    • mckinney
    • plano
      • legacy west
      • things to do in plano
    • ellis county
      • ennis
      • waxahachie
    • decatur
    • denison
    • palo pinto county
      • mineral wells
      • mineral wells state park
      • palo pinto
      • possum kingdom lake
    • weatherford
  • LOCAL NEWS
  • 🍹 RESTAURANTS: LOCAL
    • DENTON RESTAURANTS
    • FLOWER MOUND RESTAURANTS
    • FRISCO RESTAURANTS
    • GARLAND RESTAURANTS
    • LEWISVILLE RESTAURANTS
    • MCKINNEY RESTAURANTS
    • PLANO RESTAURANTS
    • PROSPER RESTAURANTS
    • ALL RESTAURANT NEWS
  • Travel
    • FREE Guide: Ultimate Texas Bucket List
    • Spring Break
  • CULTURE
    • PLACES TO GO
      • FREE Guide: Ultimate Texas Bucket List
      • Spring Break
    • DALLAS CULTURE
    • Charities and Causes
    • Sports and Entertainment
    • PARENTING IN QUARANTINE
    • Celebrate!
      • New Years Eve
      • Super Bowl Sunday
      • Valentine’s Day
      • St. Patrick’s Day
      • Spring Break
      • Thanksgiving
      • Christmas
    • Social and Lifestyle
  • HOME + GARDEN
  • KIDS + FAMILY
    • DIY HAND SANITIZER
    • DIY BABY WIPES
    • 151 FREE HOMESCHOOL IDEAS
    • KIDS SCIENCE EXPERIMENTS
    • HUGE LIST of VIRTUAL TOURS
    • TOILET PAPER ROLL CRAFTS
    • EDUCATIONAL VIDEOS
    • MAKE SOCIAL DISTANCING FUN
    • HOMESCHOOL P.E. IDEAS
    • NATIONAL PARKS – VIRTUAL TOUR
    • ART MUSEUMS – VIRTUAL TOUR
You are here: Home / Featured / Taco Cabana, Pollo Tropical Are Now Repaying $15 MILLION PPP Loans Meant For Small Business

Taco Cabana, Pollo Tropical Are Now Repaying $15 MILLION PPP Loans Meant For Small Business

May 1, 2020 //  by Allie//  Leave a Comment

Share
Tweet
Pin
18 Shares

Joining an ever-growing list, Fiesta Restaurant Group Inc., the parent company of Taco Cabana and Pollo Tropical, said that they are repaying the $15 million taxpayer-backed Payment Protection Program loan meant for actual small businesses. So far, over $1 BILLION in PPP loans were made to publicly traded companies.

RELATED: List of Companies Returning PPP Loans by May 7

RELATED: ENTIRE List of Dallas Restaurants Opening For Dine-In May 1

fiesta restaurant group ppp loan 15 million pollo tropical taco cabana dallas

Taco Cabana, Pollo Tropical Are Now Repaying $15 MILLION PPP Loans Meant For Small Business

Dallas-based Fiesta Restaurant Group Inc. disclosed in an SEC federal filing that they are repaying the taxpayer-backed Payment Protection Program loans they received on behalf of fast-casual restaurant brands Taco Cabana and Pollo Tropical.

Combined, the publicly traded companies received $15 million total under the PPP. $10 million went to Taco Cabana and $5 million went to Pollo Tropical.

The fast-casual restaurant group announced the taxpayer-backed loan return, saying it “represents the entire amount of the loans, provided by JPMorgan Chase Bank N.A. collectively to Pollo Operations Inc. and Texas Taco Cabana L.P., each an indirect subsidiary of the company.”

As of May 1, we know JP Morgan Chase Bank N.A. processed $172,852,302 of these taxpayer-backed loans to publicly traded companies under the PPP. More than $1 BILLION went to publicly traded companies (so far).

Chase and other big banks are accused in lawsuits of shuffling PPP loans to larger clients during the first few days of the initial federal relief program meant to help small businesses weather the storm due to the coronavirus pandemic and subsequent shut down. They are accused of unfair business practices that ultimately choked out many small businesses and self-employed persons from receiving much-needed funds.

U.S. Treasury Secretary Steve Mnuchin said that businesses receiving more than $2 million in loans from the Small Business Administration program would be audited and held to federal scrutiny in an attempt to rectify the problem of big companies taking PPP loans meant for real small businesses.

“To further ensure PPP loans are limited to eligible borrowers, the SBA has decided, in consultation with the Department of the Treasury, that it will review all loans in excess of $2 million, in addition to other loans as appropriate, following the lender’s submission of the borrower’s loan forgiveness application,” Mnuchin said.

Mnuchin also made an announcement on Twitter May 1 calling for private schools with significant endowments to return PPP loans awarded to them.

“It has come to our attention that some private schools with significant endowments have taken #PPP loans,” he said. “They should return them.”

It has come to our attention that some private schools with significant endowments have taken #PPP loans. They should return them. @SBAgov #CARESAct #PPPLoans

— Steven Mnuchin (@stevenmnuchin1) May 1, 2020

Publicly traded businesses have until May 7 to either certify the PPP loan was necessary for continued operations or return the amounts borrowed under the program. The largest recipient under the PPP loan program is a massive hotel conglomerate, Ashford Hospitality Trust and related companies received a whopping $126.4 MILLION and their chairman/CEO Monty Bennett says he has no plans to return any taxpayer-backed PPP loans under the CARES Act.

DALLAS HOTELIER MONTY BENNETT RECEIVED $126.4 MILLION PPP LOANS – NO PLANS TO RETURN ANY OF IT

monty-bennett-ashford-hospitality-cares-act-hotel-dallas-biggest-ppp-loan-2

Want to see the FULL list of companies giving back PPP loans? Click here.

BIG RESTAURANTS REPAYING PPP LOANS

  • SHAKE SHACK – $10 MILLION they were the first to return PPP loan
  • SWEETGREEN – $10 MILLION {major investor is Danny Meyer, founder of Shake Shack, privately held}
  • J. ALEXANDER’S HOLDINGS INC. – $15,100,000
  • RUTH’S CHRIS – $20 MILLION
  • KURA SUSHI – $5,983,290
  • POTBELLY – $10 MILLION
  • NATHAN’S FAMOUS – $1,224,465
  • TACO CABANA / POLLO TROPICAL – $15 MILLION

BIG RESTAURANTS NOT REPAYING PPP LOANS {YET?}

  • PIZZA INN / PIE FIVE – Dallas area-based Pizza Inn and Pie Five received $656,830 from Chase bank.
  • FOGO DE CHAO – Plano-based high-end restaurant chain received $20 MILLION, CEO says the size of his business doesn’t matter.
  • DICK’S WINGS / TILTED KILT – $6,064,560
  • LUBY’S – $10 MILLION

FOGO DE CHAO GOT $20 MILLION PPP LOAN, CEO SAYS SIZE OF BUSINESS DOESN’T MATTER

fogo-de-chao-got-20-million-ppp-loan-ceo-barry-mcgowan-feature

Taco Cabana, Pollo Tropical Are Now Repaying $15 MILLION PPP Loans Meant For Small Business

Joining an ever-growing list, Fiesta Restaurant Group Inc., the parent company of Taco Cabana and Pollo Tropical, said that they are repaying the $15 million taxpayer-backed Payment Protection Program loan meant for actual small businesses.

More on Metroplex Social:

  • ENTIRE List of Companies Returning PPP Small Business Loans
  • Fogo de Chao Got $20 MILLION PPP Loans, CEO Says Size Of Company Doesn’t Matter
  • Dallas Hotelier Monty Bennett Got $126.4 MILLION PPP Loans, No Plans To Pay It Back
  • CRAZIEST Times Big Companies Took PPP Loans Meant For Real Small Businesses
  • NBA’s Lakers Got $4.6 MILLION, Quickly Repaid It
  • AutoNation Got A Whopping $77 MILLION in PPP Loans
  • Governor Abbott Just Hinted At Keeping Alcohol-To-Go Forever In Texas
  • LIST: Publicly Traded Companies Have Received Over $1 BILLION In PPP Loans So Far

Got something to say? Leave a comment.

Share
Tweet
Pin
18 Shares

Category: Business Advice, CARES Act and PPP, Featured, Local News, News, Restaurants and BarsTag: cares act, dallas, mnuchin, payment protection program, pollo tropical, ppp, restaurants, restaurants in dallas, restaurants in dfw, taco cabana

About Allie

Hi, I’m Allie! A pioneer in viral storytelling, I've been helping local, national, and global brands since 2008. I’ve worked with hundreds of local business owners, PR professionals, and marketers. I've been featured on CBS, the Dallas Morning News, and various online publications. Born in Dallas, raised in the DFW metroplex.. I'm not afraid to speak my mind. You can email me at [email protected]

Sign up. Get more. Do more.

Weekly updates to your inbox. Because you want to see what's out there.
Previous Post: «list-dallas-restaurants-open-dine-in-patio-texas-reopen Here’s The ENTIRE List Of Dallas Restaurants Open For Dine In May 1
Next Post: Even Elite Private Schools With Huge Endowments Got PPP Loans, Mnuchin Tells Them To Return Money elite private schools large endowments got ppp loans cares act wealthy»

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recipe Rating




Primary Sidebar

Trending News

Here’s All The Virtual Tours Available That Are Totally FREEHere’s All The Virtual Tours Available That Are Totally FREE8K Shares
Who Is Shelley Luther The Dallas Salon Owner That Decided To Reopen During A Global Pandemic?Who Is Shelley Luther The Dallas Salon Owner That Decided To Reopen During A Global Pandemic?5K Shares
Big Companies Got Loans Meant For Actual Small Businesses And It’s A Slap In The FaceBig Companies Got Loans Meant For Actual Small Businesses And It’s A Slap In The Face4K Shares

Restaurants Offering CURBSIDE + DELIVERY

Featured

  • restaurants-uptown-dallas-curbside-delivery-covid-19
  • list-restaurants-garland-stuck-at-home
  • list-restaurants-lewisville-stuck-at-home
  • list-restaurants-mckinney-stuck-at-home
  • list-restaurants-plano-tx-coronavirus-stuck-at-home-2
  • what-to-do-if-you-get-coronavirus-covid-19
    What To Do If You Get Coronavirus According To The CDC
  • work from home
    Work From Home TIPS
  • how to make hand sanitizer
  • how-to-make-baby-wipes-diy-3
  • dfw schools closed to due coronavirus
    List of DFW Schools CLOSED Due To Coronavirus (COVID-19)

Search Metroplex Social

Sign up. Get More. Do More.

Weekly updates to your inbox. Because you want to see what's out there.

Trending Stories

Here’s All The Virtual Tours Available That Are Totally FREEHere’s All The Virtual Tours Available That Are Totally FREE8K Total Shares
Who Is Shelley Luther The Dallas Salon Owner That Decided To Reopen During A Global Pandemic?Who Is Shelley Luther The Dallas Salon Owner That Decided To Reopen During A Global Pandemic?5K Total Shares
Big Companies Got Loans Meant For Actual Small Businesses And It’s A Slap In The FaceBig Companies Got Loans Meant For Actual Small Businesses And It’s A Slap In The Face4K Total Shares
Dream Park is the New Fort Worth Playground Everyone is Talking AboutDream Park is the New Fort Worth Playground Everyone is Talking About3K Total Shares
This Hidden Croatian Village in McKinney TX Will Make You Feel Like You’re In EuropeThis Hidden Croatian Village in McKinney TX Will Make You Feel Like You’re In Europe2K Total Shares
Why Fossil Rim Wildlife Center Should Be On Your Summer Must Do ListWhy Fossil Rim Wildlife Center Should Be On Your Summer Must Do List2K Total Shares
Gov Abbott Hinted At Keeping Alcohol To-Go Drinks In Texas ForeverGov Abbott Hinted At Keeping Alcohol To-Go Drinks In Texas Forever2K Total Shares
ENTIRE List Of Denton Restaurants Offering Curbside And Delivery Due To CoronavirusENTIRE List Of Denton Restaurants Offering Curbside And Delivery Due To Coronavirus1K Total Shares
You Can Take Your Photos In This Sea Of Sunflowers In North TexasYou Can Take Your Photos In This Sea Of Sunflowers In North Texas1K Total Shares
This Hidden Swimming Hole Near Fort Worth Will Let You Make a Splash All SummerThis Hidden Swimming Hole Near Fort Worth Will Let You Make a Splash All Summer1K Total Shares

Latest Local News

klyde warren park dallas fountain

Nancy Best Blew $10 MILLION On A Water Fountain In Dallas During A Global Pandemic

December 4, 2020

list holiday events in dallas

Here’s The Entire List 2020 Holiday Events In DFW

December 4, 2020

best holiday gift ideas dallas no batteries required

Here’s The Best Holiday Gifts That Don’t Require Batteries

December 4, 2020

dallas catering thanksgiving holiday christmas

These 4 Festive Holiday Recipes Will Help You Celebrate The Season

December 3, 2020

Footer

Recent News

klyde warren park dallas fountainNancy Best Blew $10 MILLION On A Water Fountain In Dallas During A Global Pandemic
list holiday events in dallasHere’s The Entire List 2020 Holiday Events In DFW
best holiday gift ideas dallas no batteries requiredHere’s The Best Holiday Gifts That Don’t Require Batteries
dallas catering thanksgiving holiday christmasThese 4 Festive Holiday Recipes Will Help You Celebrate The Season
top breweries in dallasHere’s The Top 19 Breweries In Dallas Fort Worth You Need To Visit This Year
snowday-in-dallas-holiday-escape-2020SNOWDAY In Dallas Lets You Have Your Own Holiday Escape!

Listen to the Good Morning Metroplex! Podcast!

Featured On

Fort Worth Star-Telegram

Texas Hill Country

Voyage Magazine

Life & Lana

Mamá Contemporánea

Kids Activities Blog

Sign up. Get More. Do More.

Weekly updates to your inbox. Because you want to see what's out there.
  • Local News
  • SEARCH Local
  • Submit a Story
  • Meet Our Team
  • Partnerships

Site Footer

  • Facebook
  • Instagram
  • Twitter
  • YouTube

Privacy Policy + Disclosure

Copyright © 2021 Metroplex Social · All Rights Reserved