Trucker YRC has drawn about a third of its U.S. coronavirus aid
Freight forwarding company YRC Worldwide Inc. has drawn on just over a third of a pledged $ 700 million loan in coronavirus relief funds while it prepares a spending plan that requires U.S. government approval for further assistance .
The cash injection comes as a bipartisan congressional body raise questions on Treasury Department’s decision to loan the money to YRC as a national security company. One of the largest freight forwarding companies in the US, Overland Park, Kansas-based Freight Forwarder, struggled financially for years and tried to turn business when the coronavirus pandemic sparked what the Treasury Department called a “liquidity crisis”.