Steve Forte, Smith Gambrell & Russell, Atlanta. (Photo: John Disney/ALM) After Taking PPP Loan, Smith Gambrell Posted $1M in PEP, Avoided Layoffs
Firm chairman Stephen Forte said the $5.47 million loan did not factor into revenue and profits because it hasn't been forgiven yet.
March 17, 2021 at 04:32 PM
6 minute read
Smith Gambrell & Russell reported strong revenue and profit growth for 2020, pushing its profit per equity partner (PEP) over $1 million for the first time, even as it avoided layoffs and took a Paycheck Protection Program loan, which did not factor into revenue for 2020.
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