'Now is not the time for our nation's companies to profit at others' expense. We are all in this together.'
At least 407 publicly-traded companies applied for at least $1.3 billion in coronavirus relief loans under the Paycheck Protection Program, according to data analytics firm FactSquared."Now is not the time for our nation's companies to profit at others' expense. We are all in this together," said Sen. Marco Rubio, R-Fla., chairman of the Senate Small Business Committee, in a statement. The backlash prompted many companies to publicly announce the return of their loans.
As the deadline to return the loans arrives, five news organizations have announced they are suing the SBA for access to information on loan recipients.
ABC News has also unsuccessfully attempted to obtain information on the disbursement of PPP funding from the SBA. The SBA had no comment on the lawsuit.
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