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Here are the 15 largest public companies helping drain hundreds of millions of bailout dollars meant for small businesses

They helped deplete the fund in a matter of days

Christopher Occhicone/Bloomberg via Getty Images

When Congress passed and President Donald Trump signed the $2.2 trillion coronavirus stimulus package, one of the highlights touted by all sides was the Paycheck Protection Program.

The $349 billion PPP emergency funding was designed to help our country's small smallest businesses stay open — think mom-and-pop shops — and help curtail massive nationwide layoffs. The program lets the Small Business Administration give loans to U.S. companies that can be forgiven, provided the companies retain their staff on payroll through June. Businesses with more than 500 employees are not eligible.

The fund ran dry in a matter of days.

A new report from Morgan Stanley revealed Tuesday that nearly $250 million was allocated to large, publicly traded companies. One of those companies, Shake Shack, returned the $10 million it received under the PPP after public outcry. The Associated Press added that at least 94 companies that received PPP aid were publicly traded. The AP said those companies, or their subsidiaries, got a combined $365 million in low-interest, taxpayer-backed loans.

The 40 biggest companies listed by Morgan Stanley that received PPP loans had market values ranging from $6 million to $405 million.

Here are the 15 biggest companies that took PPP loans ranked by worth, as revealed by Morgan Stanley.

No. 1: DMC Global
● Market value: $405 million
● Loan amount: $6.7 million

No. 2: Wave Life Sciences
● Market value: $286 million
● Loan amount: $7.2 million

No. 3: MannKind
● Market value: $273 million
● Loan amount: $4.9 million

No. 4: Lindblad Expeditions
● Market value: $264 million
● Loan amount: $6.6 million

No. 5: Legacy Housing
● Market value: $229 million
● Loan amount: $6.5 million

No. 6: Misonix
● Market value: $198 million
● Loan amount: $5.2 million

No. 7: Digimarc
● Market value: $192 million
● Loan amount: $5 million

No. 8: Fiesta Restaurant
● Market value: $189 million
● Loan amount: $10 million

No. 9: OptiNose
● Market value: $180 million
● Loan amount: $4.4 million

No. 10: Quantum Corp.
● Market value: $151 million
● Loan amount: $10 million

No. 11: New Age Beverages
● Market value: $137 million
● Loan amount: $6.9 million

No. 12: Aquestive Therapeutics
● Market value: $122 million
● Loan amount: $4.8 million

No. 13: Escalade
● Market value: $104 million
● Loan amount: $5.6 million

No. 14: ZAGG
● Market value: $101 million
● Loan amount: $9.4 million

No. 15: Veritone
● Market value: $101 million
● Loan amount: $6.5 million

One last thing…
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