Trump Claims That He’ll Ask Big Businesses to Return Small Business Loans
There are a number of small businesses all over the country that desperately need an infusion of cash. To help these companies, the US passed a small business Coronavirus Relief Fund. But while numerous business owners say that they’ve had trouble accessing the funds, there have been reports of much larger companies receiving large loan packages.
The President was asked about the large corporations that have been taking advantage of the program during today’s press briefing. Trump said that they shouldn’t have done that and claims that he will ask them to return the funds.
Just a few weeks ago, the President had effusively praised the program. ““It’s been flawless so far, beyond our expectations,” he said earlier in April. “I didn’t hear of any glitch. They’ve done billions of dollars [in loans] to small businesses. These are loans to get businesses back.”
His tune had somewhat changed on Tuesday when he was asked about large companies like Potbelly Sandwiches and Ruth Chris Steakhouse who had received millions in loans.
“I’m going to request it [a return of funds],” Trump told reporters. “Harvard is going to pay back the money. They shouldn’t be taking it.”
Rather than discussing any of the large companies that have taken advantage of the small business program, the President continued, “I’m not going to mention any other names but when I saw Harvard, they have one of the largest endowments anywhere in the country, maybe in the world. They’re going to pay back the money.”