Small businesses got no PPP loans while chains like Shake Shack got millions: “A slap in the face”

The Paycheck loan rules allow larger firms to apply for every restaurant they operate,

With the federal Paycheck Protection Program out of money, some small business owners are expressing anger that bigger businesses — like pricey Ruth’s Chris Steakhouse chain — received tens of millions of dollars in assistance.

Take Ruhel Islam, owner of Ghandi Mahal, a Bangladeshi and Indian food restaurant in Minneapolis, Minnesota. He applied for a six-figure loan through the $349 billion Small Business Administration initiative and got nothing.

“I believe bigger restaurants had better systems for dealing with this, while we were just working hard to keep our doors open. They have people to navigate this for them, while we had to do it ourselves, and I think that’s why they were ahead of us in terms of applying for loans,” Islam told CBS MoneyWatch.


Article submitted by, dewater.