Alarmed? no.
Surprised? no.
I have friends that own small businesses that were told they were behind 42,000 other applicants that did got read or considered as the funding was 100% obligated prior to the end of the filing date.
So Steak and Shake returned the $10m commitment they were offered. Did they return the money out of embarrassment and potential brand damage or was it returned due to private funding that had no rules to be followed? I can only wonder if that funding was made available to other applicants in need. The link is to the New York times article regarding the return and the funding.
Shake Shack Will Return Its $10 Million Loan Amid Furor Over Stimulus Program - The New York Times
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I would like to see a searchable data base open to the public for the distribution of the fund. It should include:
1. The name and address of the company,
2. The type of business
3. The name(s) of the owner(s) regardless of LCC or other status
4. Number of full time and part time employees as per the application
5. The amount funded
6. If compliant documents for fund expenditures were received (no return of funds)
7. If complaint docs not sent or rules not followed, how much funding is expect returned
Just my humble opinion.