Small Business Administration sign at headquarters building entrance in Washington, D.C. Photo: Jer123/Shutterstock.com Millions in Florida PPP Loans Went to Equity Partners Whose Law Firms Also Took Loans
At nine Florida law firms, equity partners and shareholders took PPP loans separate from their firm's loan. Most acted in accordance with an initial CARES Act regulation instructing them to do so, one that was subsequently reversed—but not before millions were approved for the partners.
December 21, 2020 at 05:00 AM
6 minute read
Through their own professional associations, more than 50 equity partners at Florida law firms took Paycheck Protection Program loans separate from the loans their firms took, a Daily Business Review analysis of Small Business Administration data on the program found.
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