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US lawmakers blast five large corporations for taking $50 million meant for small businesses. Only one is returning the money.

Reuters

  • House lawmakers on Friday demanded five large, publicly traded companies return the $10 million loans they received that were meant for small businesses. 
  • Only one company, MiMedx, said it would return the $10 million Paycheck Protection Program loans.
  • Just 48 public companies of the 387 that received PPP loans have returned the money. 
  • Visit Business Insider's homepage for more stories.

US representatives blasted five publicly traded companies for taking Paycheck Protection Program loans means for small businesses, leading at least one to return the money.

The House subcommittee on the coronavirus crisis sent letters] to MiMedx, Quantum, EVO Transportation & Energy Services, Gulf Island Fabrication, Universal Stainless, and Alloy Products on Friday demanding they return loans received from the treasury. MiMedx said late Friday it was repaying its $10 million loan.

See the rest of the story at Business Insider

NOW WATCH: Inside London during COVID-19 lockdown

See Also:



  • PPP
  • Paycheck protection program
  • house subcommittee on the coronavirus crisis
  • Steven Mnuchin

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