Kura Sushi Got A $6M Gov't Loan. They Have Access To Millions In Cash Already
The "revolving sushi bar" restaurant Kura Sushi is one of the 112,967 small businesses in California that have received a Paycheck Protection Program loan so far.
That's the $349 billion loan program created by Congress to encourage companies to continue paying their employees.
But the Irvine-based company might not seem like a small business: it has 25 locations in five states, $24 million in cash on hand, and access to $20 million more through a loan from its majority stockholder, a Japanese company.
“It’s outrageous that companies that know they have funding available to them are asking for this kind of money,” said John Kabateck, the California state director of the National Federation of Independent Businesses.
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