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  • Treasury Dept.: Publicly traded companies must return small business loans by May 7th

    Treasury Dept.: Publicly traded companies must return small business loans by May 7th

    Treasury Department officials are warning publicly traded companies to return any funds they have received under the Paycheck Protection Program (PPP) or face consequences. In a new round of guidelines that were issued Thursday, the administration announced public companies have until May 7th to repay their loans.

    H/T: OAN

    “Certain people on the PPP may have not been clear in understanding the certification,” Treasury Secretary Steven Mnuchin said. “So, we will give people the benefit of the doubt. We’re going put out a FAQ, explain the certification. If you pay back the loan right away, you won’t have liability to the SBA and to Treasury. But there are severe consequences for people who don’t test properly the certification.”

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