When Congress produced the $349 billion Salary Protection Program in the particular stimulus plan approved final month, it targeted businesses with less than 500 workers. But restaurants and resorts were granted some versatility in the legislation — so long as these people employed no more compared to 500 workers any kind of time solitary location, they could make an application for the aid.
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Use the stock quote function; news will display under “Recent Bulletins” section. Enter ticker or company name in search; click “Press Releases” under company quote. The average salary for a notary public is $51, 000 a year in the United States according to careers site PayScale. Lawmakers are preparing to pass a bill that would pump an additional $310 billion into the program later today. Publicly traded companies had claimed around $600 million worth of the $350 billion Paycheck Protection Program. High-quality managers and personnel can be difficult to find in any industry.
Companies looking to attract and keep the best employees may find that using stocks as incentives can help them remain competitive as an employer. Companies may offer stock option plans, for example , as a perk with unlimited earning potential. Yet, the three Monty Bennett-owned companies disclosed in FactSquared’s report said it would keep the money because it had no other sources to tap emergency funds. Under pressure, 13 companies, including burger chain Shake Shack and Ruth’s Hospitality Group, have returned a total of $98 million to the government. “We’re confident that if a company disclosed it in a filing, we got it, ” FactSquared CEO Bill Frischling told CNBC.
CNBC reached out towards the 41 biggestpublicly traded businesses that had received Salary Protection Program loans to verify if they would be coming back the funds. Phunware TOP DOG Alan Knitowski told CBS TELEVISION STUDIOS MoneyWatch the company expects to keep its $2. 9 million loan plus repay it in 2 years at 1% attention, as the PPP guidelines allow. after raising $140 million in a share offering these week, observing that “many who require it most haven’t become any assistance. inch
In spite of last week’s SEC submitting, a spokesperson for Blender told CBS MoneyWatch the particular offering is in the early stages and the particular company failed to know whenever — and even if— the particular offering can have done. Blender last week started the particular process of raising because much as $250 mil through a stock or even debt offering, according in order to a filing with the particular U. S. have lately raised or disclosed purposes to raise an overall total associated with more than $1 billion dollars through stock offerings plus debt deals, according in order to an analysis by CBS TELEVISION STUDIOS MoneyWatch. That opened the particular program to a variety of massive firms that can have received help through different avenues, such as the Federal government Reserve.
Three companies affiliated with Dallas-based hotel group Monty Bennett—Ashford Hospitality Trust, Braemar Hotels & Resorts and Ashford—applied for $126. 4 million and received $68 million. The highest recipient of the three firms, Ashford Hospitality Trust, applied for $76 million in 117 separate loans and received $38 million, FactSquared’s analysis found. “The PPP funds will be used entirely as they were intended and as the name of the program dictates— to pay and protect our employees against layoffs, furloughs and salary reductions that otherwise would be needed, ” she added. The chief executive ofPolarityTE, a $38 million biotech company based in Salt Lake City, echoed Davis’ comments. Davis said the PPP loan helps him keep his 215 skilled workers on the job at Digimarc, a Beaverton, Oregon-based tech company that creates invisible digital identifiers for everything from driver’s licenses to bank notes. The SBA funds are critical, he said, since the company is currently working at a loss plus only generates some $23 million in annual income.