America’s big businesses tap funds meant for small firms – The National

America’s big businesses tap funds meant for small firms – The National

The restaurant chain racked up $468m in sales last year and employed about 5,700 people.. Some business owners like Lupe Rose found the process disheartening.. "It's just pretty disgusting that you hear about all of these other businesses who have been funded and who are able to pay for their employees", she said. ". While you have businesses like mine that are being buried, small businesses being buried because we believed what we heard.". But because the 500-employee cap refers to a single location operated by hotel and restaurant companies, chains like Shake Shack could apply.. Shake Shack is one of the fastest-growing restaurant companies in America, with $595m in annual sales.. "The vast majority of these loans - 74 per cent of them - were for under $150,000, demonstrating the accessibility of this programme to even the smallest of small businesses," a statement from the SBA and the Treasury Department said.. An SBA report showed that about 2 per_cent of the firms approved for loans accounted for almost 30 per_cent of the funding.. Representatives for the other companies didn't respond to requests for comment.. John Arensmeyer of Small Business Majority, an advocacy group for small firms, said he has