Banks give 20 millions out of maximum 10, to a company that has 4500 employees over 500 employee limit. Big get bigger. Small gets shafted

via WSJ

Restaurant chain is among first to disclose SBA funds received under federal rescue package

The owner of the high-end Ruth’s Chris Steak House chain is among the first public companies to disclose it has received a government-backed loan to keep people on its payroll.

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Ruth’s Hospitality Group Inc., a company with more than 5,000 workers, received $20 million in forgivable loans on April 7, according to a securities filing. That is four days after the Small Business Administration opened the application window on its $350 billion Payroll Protection Program.



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