20 healthcare companies that have repaid their PPP loans
Twenty healthcare companies have repaid more than $ 61 million in Paycheck Protection Program loans they received under the Coronavirus Aid, Relief and Economic Security Act, according to KAKE, who cited data from COVID stimulation watch.
Congress originally allocated $ 349 billion in PPP loans to help small businesses keep their employees during the COVID-19 pandemic. After initial funds were exhausted in less than two weeks, Congress added an additional $ 310 billion.
The Small Business Association and the Treasury Department released dozens of post-loan guidelines, including requiring borrowers to show that their loan application was necessary, and announced that loans over $ 2 million would be reviewed. .
Faced with the evolution of directives and the possibility of an audit, many companies have decided to repay the loans.
Below are 20 healthcare companies that have paid off their PPP loans, according to KAKE. They are classified according to the amount of loans received.
1. MiMedx Group: $ 10 million
2. WAVE Life Sciences: $ 7.2 million
3. Harvard Bioscience: $ 6.1 million
4. ADMA Biologics: $ 5.4 million
5. Therapeutic Aquestive: $ 4.8 million
6. OptiNose: $ 4.4 million
7. Xeris Pharmaceuticals: $ 4.2 million
8. Neos Therapeutics: $ 3.6 million
9. Chembio Diagnostics: $ 3 million
10. TransMedics Group: $ 2.2 million
11. BioLife Solutions: $ 2.2 million
12. Durect: $ 2 million
13. CHF Solutions: $ 1.7 million
14. CytoSorbents: $ 1.4 million
15. Motus GI Holdings: $ 780,942
16. Windtree Therapeutics: $ 546,600
17. BioXcel Therapeutics: $ 537,000
18. Soleno Therapeutics: $ 350,445
19. Helius Medical Technologies: $ 323,000
20. Enochian BioSciences (Los Angeles): $ 272,700