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( Reuters) – Ashford Group of companies will return $587 million supplied by the Small Business Administration’s (SBA) Income Protection Program (PPP), the business said in a declaration on Saturday.
The company said that it will return funds due to SBA’s “recently changed guidelines” and “irregular federal guidance that put the business at compliance risk.”
Monty Bennett is chairman of Ashford, Inc.
The group’s openly traded business overseen by Dallas hotelier Monty Bennett include Ashford Inc, Ashford Hospitality Trust Inc and Braemar Hotels & Resorts Inc.
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The PPP program intends to helping small businesses through the coronavirus pandemic.
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source https://jobsearchtips.net/big-hospitality-firm-ashford-returns-coronavirus-bank-loan-money/
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