Finance

Most companies face little risk of punishment, experts say

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Public companies that took advantage of the government’s small business loan program are likely to avoid repercussions from the agencies running the effort, according to legal experts.

Businesses have until May 18 to return funds taken from the Paycheck Protection Program with amnesty,  but most of the public companies that got PPP loans are keeping them, including ones with access to other forms of fundraising like stock sales or bank credit lines, according to a CNBC analysis of regulatory filings.

That is despite  a threat from Treasury Secretary Steven Mnuchin that borrowers face “severe consequences” and even criminal liability if they didn’t really need the government money….



Source cnbc.com

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