Shake Shack returns $10M government loan so ‘restaurants who need it most can get it now’

Shake Shack returns $10M government loan so ‘restaurants who need it most can get it now’

Popular burger chain Shake Shackannounced Sunday it is returning the $10 million small business loanit was given by the government in order to help with the financial effects of the coronavirus pandemic.The loan was distributed by the U.S. Small Business Administration as part of the Paycheck Protection Program. An SBA loan helps businesses keep employees on payrollduring the coronavirus crisis.Shake Shack said it has “access to capital that others do not" and was sparked by stories of how many independent restaurants were unable to receive fundingin the first phase of the PPP.CEO Randy Garutt...


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