More U.S. companies return payroll loans after new Treasury guidance - Reuters: The department went on to say that borrowers that returned loan money by May 7 “will be deemed by the Small Business Administration to have made the required certification in good faith.”
The new guidance prompted the program’s largest recipient, the Ruth’s Chris Steakhouse chain (RUTH.O) to say it would quickly repay its $20 million loan to maintain its payroll during coronavirus-prompted shutdowns.
The new guidance prompted the program’s largest recipient, the Ruth’s Chris Steakhouse chain (RUTH.O) to say it would quickly repay its $20 million loan to maintain its payroll during coronavirus-prompted shutdowns.