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.
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, several sources explained.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]