Shake Shack Inc. said it will return the small business loan it received from the U.S. government, making it the first major firm to hand back money provided to help businesses ride out the impact of the CCP (Chinese Communist Party) virus lockdown.
The company will immediately return the entire $10 million U.S. Small Business Administration (SBA) loan as it was able to raise additional capital, CEO Randy Garutti and founder Danny Meyer said in a blog post on April 20.
