Twenty-eight law firms in Louisiana were approved for $1 million to $10 million in emergency, low-interest loans from the federal Paycheck Protection Program (PPP).
PPP is part of the CARES Act that Congress passed this spring to help the country weather the COVID-19 shutdown. The Louisiana firms make up 2.4 percent of the total number of Louisiana businesses approved for the loans. If a majority of the money is used for salaries, the loans may not have to be repaid.
One of the law firms that was approved for the funding is Kean Miller, a Baton Rouge, law firm. Kean Miller qualified for $5 million to $10-million. Steve Boutwell of Kean Miller told nola.com that the relief money was used to pay the salaries of the firm’s 350 employees. More than half of the salaries paid were those of paralegals, secretaries and administrative staff, Boutwell said.
PPP was designed to use local lenders to underwrite loans guaranteed by the Small Business Association. Some companies who were approved for loans may have decided not to accept them, nola.com reported.
In Louisiana, authorized PPP funding had the ability to support 800,000 jobs, nola.com reported. In addition to law firms, the recipients included companies in many different sectors, including the oil and gas industry, hospitals, non-profits, auto dealers, private schools and restaurants.
The Washington Post published a database of PPP loan recipients who were approved for the loans. The following Louisiana law firms were listed:.
Taylor, Porter Brooks & Phillips - Baton Rouge
Allen & Gooch- Lafayette
Sher Garner Cahill Richter- NO
Morris Bart- NO
Porteous Hainkel and Johnson - NO
Gordon, Arata, Montgomery- NO
Kuchler Polk Weiner- NO
Simone Perrigine Smith & Redfern - NO
Liskow & Lewis- NO
Stone, Pigman, Walther Wittman - NO
Taylor Wellons Politz & Duhe- NO
The Sessions Firm - Metairie
The Kullman Firm - NO
Kean Miller llp - Baton Rouge
McGlinchey Stafford - NO
Phelps Dunbar - NO
Deutch Kerrigan - NO
Gieger, Laborde & Laperouse - NO
Degan, Blanchard & Nash - NO
Dudley Debosier - Baton Rouge
Chaffe McCall - NO
Carver, Darden, Koretzky, Tess - NO
Breazeale, Sachse & Wilson - Baton Rouge
Galloway, Johnson, Thompkins - NO
Gordon McKernan - Baton Rouge
Irwin, Fritchie, Urquhart - NO