PPP Per Partner: What Government Loans Would Have Cost Lawyers

Boies Schiller Flexner and other Big Law firms were among the recipients of government loans under the Paycheck Protection Program. Forty-five AmLaw 200 firms received between $210 million and $425 million in total from the Small Business Administration program aimed at saving jobs during Covid-19.

Capital Call: The question remains as to whether the group of wealthy firms, at which the average profits per equity partner reached around $1 million last year, could have skipped government loans and just raised cash by asking partners to pony up cash themselves. But that’s a complicated ask for law firms, which have a ...