Small Business Administration sign at headquarters building entrance in Washington, D.C. Photo: Jer123/Shutterstock.com Millions in PPP Loans Went to Equity Partners Whose Law Firms Also Took Loans
In some instances, the loans were taken by individual partners to cover reduced monthly draws or salaries for their assistants, who were employed by the partners' professional associations rather than the firms.
December 21, 2020 at 05:00 AM
6 minute read
The original version of this story was published on Daily Business Review
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, an analysis of Small Business Administration data on the program found.
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