The 16 Publicly-Held (Small Business?) Companies Receiving the Largest Forgivable PPP Loans Guaranteed By the SBA Had an Average Number of Employees of 3,495, an Average Annual Revenues of $322 Mil, an Average Annual Pretax Loss of $(20) Mil and an Average Annual CEO Total Compensation of $2.333 Mil. If I Worked On This Approval Process For Either the Bank or For the SBA, I Would Have Approved the PPP Loans of Only Two of These 16 Companies As Truly US Small Businesses.

From a review of bloomberg.com, coupled with a review of Company 8k SEC filings, so far there were 16 publicly-held Companies which received the cherished Forgivable Paycheck Protection Program (PPP) Loans under the CARES Act of more than $5 mil.

Of these 16, only 3 of them had fewer than 500 employees which has always been the qualification of a small business by the SBA.

Of these 3 Companies, one of them is headquartered in Singapore.  Thus that leaves only two of them that are truly US small businesses ...... SIFCO Industries and Perma-Fix Environmental Services.

Truly US small businesses whose loans were previously rejected by the Bank or by the SBA or not even had their loan application considered would certainly like to get a second chance at this $154 mil of loans that were made to clearly not US small businesses.

But this $154 mil is just a drop in the bucket of all Companies whose loans were approved by the SBA even though they are not truly small businesses.

First, there's the other PPP loans under $5 mil made to publicly-held Companies.

But second and much more importantly, the amount of the PPP loans made to publicly-held companies is minuscule as compared to the amount of PPP loans made to private Companies.

In all fairness, the US Government should provide to the public a list of all private companies receiving PPP loans, the PPP loan amount received and the number of employees of each private company receiving PPP loans ...... with all of this information supplied on a consolidated or combined Company basis rather than on a location basis.

The US Government should also supply a list of foreign-headquartered Companies receiving PPP Loans and the amounts of their PPP Loans.

After reviewing the individual company SBA list by City and US State (but without Company names) of approved PPP Loans and the incredibly high number of various "services" , "financial", "education" and so many other questionable industry-type companies included, there is no question that in these desperate times where so many previous middle-class people are now getting food to feed their family from Food Banks , many unethical people were successfully gaming the system and the Banks and the SBA both facilitated this deceptive, unpatriotic process.  Thus in all fairness, the US Government should supply a list of all of these companies in these questionable industries and the amount of their PPP Loans received and also single out the ones where their business location was one of their home residences.

From Company SEC filings, below is a table summarizing key information related to these 16 publicly-held Companies receiving PPP loans of above $5 mil.

									Most
								Most	Recent	Most
							Most	Recent	Year End	Recent
Publicly-Held Company							Recent	FYE	Total	FYE
Receiving CARES ACT	Amount of					Stock	FYE	Pretax	Stkhldrs	Disclosed
Paycheck Protection Program	Forgivable		City	State	# of	Market	Total	Income	Equity	CEO
Forgivable SBA Loan	SBA Loan	Business	HQS	HQs	Employees	Cap	Revenues	(Loss)	(Deficit)	Pay
	000's of $s					mils of $s	mils of $s	mils of $s	mils of $s	000's of $s
		Forgivable Loans Above $5 Mil
Meritage Hospitality Group	29,100	Restaurants: 331 Wendy's and Also Other Concepts	Grand Rapids	MI	11,000	74	467.5	16.5	83	1,874
Ruth's Hospitality Group	20,000	Restaurants: 159 Ruth's Chris Steak Houses	Winter Park	FL	5,740	217	468.0	50.4	94	6,106
J. Alexander Holdings	15,100	Restaurants: 47 Huge, Upscale Dining Locations in 16 US States	Nashville	TN	4,200	60	247.3	8.5	131	1,461
Fiesta Restaurant Group	10,000	Restaurants: Fast-Casual 142 Pollo Tropical locations in Florida and 164 Taco Cabana locations in Texas	Dallas	TX	10,480	169	660.9	(75.0)	158	1,298
Potbelly Corp	10,000	Restaurants: 474 Sandwich Shops	Chicago	IL	6,000	79	409.7	(9.4)	69	1,668
Shake Shack Inc	10,000	Restaurants: 275 Modern Day Roadside Burger Stands	New York	NY	7,603	1,610	594.5	27.5	322	3,805
Quantum Group	10,000	Tech: Computer Storage Devices	San Jose	CA	800	157	402.7	(40.4)	(200)	2,253
ZAGG Inc	9,444	Retail: Miscellaneous	Midvale	UT	628	101	521.9	5.9	191	2,225
Air T Inc	8,215	Air Courier Services	Denver	NC	769	33	249.8	4.7	23	50
WaVe Life Sciences Ltd	7,235	Pharmaceuticals Preparations	Singapore		301	266	16.0	(193.6)	64	5,840
New Age Beverages	6,868	Healthy Beverages	Denver	CO	934	127	253.7	(77.2)	92	363
Lindblad Expeditions Holdings	6,600	Expedition Cruising and Adventure Travel	New York	NY	650	236	343.1	20.9	123	1,658
Kura Sushi USA Inc	5,983	Restaurants: Japanese 23 Locations With 81% ownership by a Japanese Parent Corp	Irvine	CA	1,400	84	64.2	1.5	62	259
Perma-Fix Environmental Services	5,666	Hazardous Waste Management	Atlanta	GA	325	70	73.5	2.9	29	305
Drive Shack Inc	5,277	Golf-Related Leisure and Entertainment	New York	NY	4,650	72	272.1	(54.2)	66	7,383
SIFCO Industries	5,025	Aerospace and Energy Parts Manufacturer	Cleveland	OH	434	14	112.5	(8.2)	36	787
	164,513	Total all 16 Companies			55,914	3,369	5,157	(319)	1,343	37,335
		Average of all 16 Companies			3,495	211	322	(20)	84	2,333