WASHINGTON (Reuters) – A highly-valued public company will have a hard time getting a coronavirus relief loan, the U.S. Treasury on Thursday said, just as Congress was poised to approve a new round of funding for the debt in the Paycheck Protection Program.
“It is unlikely that a public company with substantial market value and access to capital markets will be able to make the required certification in good faith,” Treasury said in an updated list of Frequently Asked Questions on the program, amid public outcry that major chain restaurants were able to take out the forgivable loans in the first round of lending this month.
(Reporting by Lisa Lambert and Tim Ahmann)
