In yesterday’s blog I cited research by Morgan Stanley on the number of publicly traded companies taking PPP loans under the CARES Act.
Then yesterday we learned of Morgan Stanley’ analysis of the SBA approved PPP loans that showed “at least 90 publicly traded companies” received $243.4 million in loans.
The Wall Street Journal is reporting bigger numbers: 150 public companies received nearly $600 million in PPP loans.
Just more evidence that the guidelines for the PPP loans written by President Trump’s SBA and Department of Treasury failed America’s real small businesses.