11 major companies that have returned millions of dollars acquired through a government relief program meant for small businesses

• The $349 billion Paycheck Protection Program launched in early April was meant to bolster struggling small businesses.
• It was aimed at providing businesses with fewer than 500 employees with two-year, low-interest loans to cover salaries, wages, benefits, and certain taxes. The program would provide up to $10 million per company.
• Hundreds of publicly traded companies received funding through the federal government's Paycheck Protection Program. The program ran out of money less than two weeks after it was introduced.
• On April 23, the Treasury Department said publicly traded companies have two weeks to give back federal relief loans intended for small businesses.
• Here is a list of major companies, from Shake Shack to AutoNation, that have already confirmed they're returning the funds.
• Visit Business Insider's homepage for more stories.

This is a developing story. Check back for updates.

Shake Shack, the beloved burger chain that had nearly $595 million in revenue last year, announced it would return its $10 million federal loan on April 20. It was the first company to do so after swift backlash.

A Shake Shack cheeseburger.      Irene Jiang/Business Insider

Source: Business Insider

The largest conveyor belt sushi chain in the US, Kura Sushi, said it would return its $5.98 million loan on April 22.

Kura Sushi (not pictured) is headquartered in California.      progressman / Shutterstock

Source: Forbes, Business Insider

The trendy salad chain Sweetgreen is a private company but is still returning its loan to the federal government — it announced on April 22 that it received and returned $10 million.

A Sweetgreen salad.      Hollis Johnson/Business Insider

Source: Business Insider

Steakhouse chain Ruth's Chris announced on April 23 that it would repay the two loans totaling $20 million it received under the Paycheck Protection Program.

A Ruth's Chris Steak House location in Atlanta, Georgia.      Elijah Nouvelage/Reuters

Source: Business Insider, CNBC

OptiNose, a public pharmaceutical company in Yardley, Pennsylvania, told CNBC that it would be returning its $4.4 million loan on April 24.

Yardley, Pennsylvania, where OptiNose is located.      Linda Harms/Shutterstock

Source: CNBC

Wave Life Sciences, a public biotechnology company based in Singapore with a strong US presence, announced it would return its $7.2 million federal loan on April 24.

Singapore, where Wave Life Sciences is based.      Ore Huiying / Stringer / Getty Images

Source: Reuters

J. Alexander's Holdings, a company comprised of nearly 50 restaurants, said it is returning its $15.1 million federal loan on April 24. It initially received more than $10 million because it applied through separate restaurants.

A J. Alexander's location in Columbus, Ohio.      Eric Glenn/Shutterstock

Source: Nashville Post

AutoNation, the largest car dealership chain in the US, received $77 million in forgivable loans by applying for at least $266 million in funds through separate dealerships. It said it would return the funds on April 24.

Vehicles for sale pictured at the AutoNation Toyota dealership in Cerritos, California.      Mario Anzouni/Reuters

Source: Business Insider

The popular sandwich chain Potbelly said it would return the $10 million loan it received on April 25.

A Potbelly sandwich.      Sarah Schmalbruch / INSIDER

Source: Chicago Tribune

IDT Corporation, a telecommunications company based in Newark, said it will return its $10 million loan on April 27.

Newark, where the telecom company is based.      Mary A. Brown / Getty Images

Source: Washington Post

The NBA's Los Angeles Lakers received a $4.6 million loan through the Paycheck Protection Program. While not a public company, the organization confirmed that it returned the funds on April 27.

Los Angeles Lakers forward LeBron James is swarmed by teammates after making several 3-point shots in a row during a game on Feb. 4, 2020.      Associated Press

Source: Reuters