Companies with thousands of employees, past penalties from govt. investigations and risks of financial failure even before the virus were among those receiving millions of dollars from a relief fund that Congress created to help small businesses
1 / 2Virus Outbreak LoansIn this April 17, 2020, photo, Zachary Davis poses for a photo at The Penny Ice Creamery in Santa Cruz, Calif.
Eight companies, or their subsidiaries, received the maximum $10 million. The size of the typical loan nationally was $206,000, according to U.S. Small Business Administration statistics. If companies meet benchmarks such as keeping employees on payroll for eight weeks, the SBA will forgive the loans.
Story continuesSince launching April 3, the relief package has faced criticism about slow loan processing, unclear rules and limited funding that left many mom-and-pop businesses without help. “When this crisis hit, we had two business planning cases: 1) substantial layoffs and furloughs or 2) receiving these funds and not impacting our employees,” spokeswoman Audrey Chang wrote in an email. “Lindblad is the very rare travel company that has not imposed any layoffs, furloughs or salary reductions to date.”
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