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Under pressure, a 2nd major U.S chain will return $20m in federal loans meant for small businesses

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Big news in the fight to actually have the monies meant for small businesses be used for small businesses. As it turns out — Ruth Chris Steakhouse will not accept the $20m in loans it had been set to receive from the U.S government ‘s Paycheck Protection Programme.

On Thursday, the restaurant chain announced that it would effectively return the two $10m loans it received totalling the massive amount in federal funds. The move was partially spurred by a massively popular Change.org petition demanding that the chain return the money, because they never actually needed it.

NBC News reports.


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By Timothy Jenkins

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