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Don’t know why this is a story. They have payroll too?
What is the story? Law firms that meet the size criteria for a small business qualify for PPP loans. Many law firms all across the country applied and received them, as did accounting firms and other professional services firms. Is it a slow news day at IBJ?
Tim and Christopher, this is a story because there definitely is interest in the law firms and companies that received PPP loans. The article does not say that is a bad thing or a good thing. It just provides information. This was written by The Indiana Lawyer, our sister publication, which is read by thousands of attorneys throughout the state.
As IBJ reported a while back, one in 5 families in Marion County are below the poverty line. Citizens Energy now has 20,000 households in arrears and on an extended payment plans due to the financial fallout of the pandemic. It’s reassuring to see that the law firms are able to stay afloat with the PPP infusion of cash.