Article

2020-04-26 Economy

[CNBC]

Ruth’s Chris Steakhouse owner, Ruth’s Hospitality Group, announced Thursday that it is repaying the $20 million it received under the federal government’s Paycheck Protection Program.

By applying through two subsidiaries, the company was granted a total of $20 million in loans in early April, according to an SEC filing.

Although larger companies qualified for the loans, they received backlash because the emergency program ran out of money before many small businesses could access it.

The program has given out nearly $600 million in loans to about 150 public companies. However, the $349 billion program ran out of money last week, prompting Congress to inject an additional $310 billion into the fund.

Posted by trailing wife 2020-04-26 00:00|| || Front Page|| [11133 views ] Top

#1 Ate at the San Diego store once. I cook a better steak in my driveway and I don't have to put pants on.

Posted by M. Murcek 2020-04-26 00:45|| 2020-04-26 00:45|| Front Page Top

#2 Will repay it once they've collected some interest of course. In 2022

Posted by bbrewer126 2020-04-26 10:17|| 2020-04-26 10:17|| Front Page Top

#3 You mean that 0.5% interest? Now, if they were to invest that money somewhere for a higher rate of return, well then.

Posted by Clem 2020-04-26 10:19|| 2020-04-26 10:19|| Front Page Top