Shake Shack, Potbelly Among Chains Tapping Small-Biz Funds (2)

April 20, 2020, 12:15 AM UTC

More than a dozen publicly traded companies with revenue of more than $100 million, including Shake Shack Inc., Potbelly Corp. and a Tex-Mex restaurant chain with more than 10,000 employees, received loans through a massive relief program aimed at small businesses.

With a $349 billion lending package for small business owners now exhausted, a review of regulatory filings shows that restaurant chains and companies in industries ranging from mining to manufacturing to cruise travel received large amounts, while much smaller businesses like neighborhood eateries and hair salons were locked out.

The disclosures could fuel calls for Congress to ...

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