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The steak-and-salad bar chain Sizzler has sued the U.S. Small Business Administration in a last-ditch effort to get a second Paycheck Protection Program loan just days before the fund is expected to dry up, arguing that the agency is improperly putting a hold on the company over its bankruptcy filing last year.
The Mission Viejo, Calif.-based company said it has applied multiple times for a $2 million PPP loan, which would be its second, but has been prevented from doing so because of a hold on its application over the bankruptcyeven though Sizzler emerged from bankruptcy in January.
Sizzler says the SBA in April changed its view and said it would no longer block companies that emerged from bankruptcy protect…
Read the full article at: https://www.restaurantbusinessonline.com/financing/sizzler-sues-sba-get-access-ppp-funds
