These 7 larger law firms got the $10M maximum in coronavirus pandemic loans
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When the government offered forgivable loans to keep businesses afloat and workers on the payroll during the novel coronavirus pandemic, dozens of larger law firms received the money.
Now, the U.S. Small Business Administration has released more details on the loans as a result of a federal judge’s order, including the loan amounts.
Law.com looked at the list and determined that seven of the nation’s 200 top-grossing law firms received the maximum $10 million loan in the Paycheck Protection Program.
The seven law firms receiving $10 million loans are:
• Boies Schiller Flexner, with a No. 93 ranking.
• Thompson & Knight, with a No. 141 ranking.
• Kasowitz Benson Torres, with a No. 143 ranking.
• Robins Kaplan, with a No. 152 ranking.
• Cole, Scott & Kissane, with a No. 163 ranking.
• Day Pitney, with a No. 164 ranking.
• GrayRobinson, with a No. 169 ranking.
Two law firms outside the Am Law 200 that received $10 million loans are Maynard Cooper & Gale and von Briesen & Roper.
Bloomberg Law also had coverage of Boies Schiller’s loan.
The loans are fully forgiven if they’re used for eligible expenses consisting of payroll, rent, mortgage interest and utilities.