Shake Shack Returning $10 Million From PPP - Meant for Small Businesses


Shake Shack is returning $10 million it got through the federal government's small-business loan fund after that fund ran out of money. 

"We now know that the [loan program] was underfunded, and many who need it most haven’t gotten any assistance,"... "We’ve decided to immediately return the entire $10 million."  the company says.

Several major restaurant chains--including Shake Shack, Potbelly and Ruth's Chris steak houses--secured funding from the loan program, while smaller ventures didn't before the fund was depleted.

Shake Shack Raises Prices For Upcoming IPO

Shake Shack Raises Prices For Upcoming IPO