'It has come to our attention that some private schools with significant endowments have taken #PPP loans,' Mnuchin wrote on Twitter, 'They should return them.'
The New York Times
The now $660 billion tax-payer funded program designed to help small businesses during the novel coronavirus pandemic has been subject to public criticism over which businesses are worthy of federal aid. The assistance effort created to help businesses with fewer than 500 workers resumed Monday after lawmakers introduced another $310 billion into the program after the initial $349 billion ran out.
Several big companies, including the Los Angeles Lakers and Shake Shack, have returned federal aid after public outcry over qualifying for small business loans via a loophole that allows businesses with fewer than 500 employees in a location to receive the funds.
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