Shake Shack to Return $10 Million Coronavirus Stimulus Loan

Burger chain defers to other businesses in need of federal funds after it raised capital from investors

The small-business loan program designed to keep workers employed is out of money, and some main street business owners hit by the coronavirus pandemic say that it simply is not enough to keep their business alive in the first place. Photo: B.A. Van Sise/NurPhoto

28365365体育投注 Shake Shack Inc. said it would return a $10 million loan from a federal coronavirus aid program that some small restaurants say shouldn’t have made funds available to big companies.

The publicly traded burger chain, which employs more than 8,000 people, is one of several larger restaurant operators that have received funds from the Small Business Administration’s Paycheck Protection Program. The company said Monday that it would return its PPP loan, after raising additional capital from stock investors.

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