Dallas Hotelier Gets $58.7 Million in Small Business Bailout Funds

Three publicly traded companies overseen by Dallas hotelier Monty Bennett have borrowed $58.7 million under a program aimed at helping small businesses through the coronavirus pandemic, and that may be just a start.
"The Company anticipates receiving additional PPP Loans," asset and hotel management company Ashford Inc. said on Wednesday as it reported the receipt of $12.8 million in Paycheck Protection Program loans for six of its subsidiaries.
Two real estate investment trusts advised by Ashford together won 50 other PPP loans totaling $45.9 million, Securities Exchange Commission filings earlier this week show. The total to the three companies was 285 times the $206,000 average loan size under the program, which is administered by the Small Business Administration.