WASHINGTON – According to data just released by the U.S. Small Business Administration and Treasury Department, 73 Pennsylvania law firms received government loans of at least $1 million while dealing with the coronavirus pandemic, including some of the state’s most influential plaintiffs’ firms.
The SBA and Treasury provided loan data concerning the Paycheck Protection Program, one of the largest economic stimulus programs in U.S. history, for about 660,000 small businesses and non-profit organizations nationwide.
Though that figure constitutes less than 15 percent of the total number of loans given out by the government, it remains the most significant and revealing disclosure of information yet connected to the PPP.
Exact loan amounts were not provided, but the data shows ranges for the approximate amounts of the loans issued. The data provided by the government reveals it issued a total of $521 billion in PPP loans, with the average size of an individual loan being about $107,000.
Six law firms which accepted government loans in the range of $5 million to $10 million were Babst Calland Clements & Zomnir, Cipriani & Werner and Dickie McCamey & Chilcote, all in Pittsburgh, McNees Wallace & Nurick in Harrisburg, Stevens & Lee in Reading and White & Williams, in Philadelphia.
21 law firms accepted government loans in the range of $2 million to $5 million, while an additional 46 firms received such loans in the range of $1 million to $2 million.
Major local plaintiff firms such as Kline & Specter, Saltz Mongeluzzi & Bendesky and Pond Lehocky were among those listed in the data. A selection of firms from the list included the following:
Firm Loan Amount No. of Jobs Supported
McNees Wallace $5 million – $10 million 0
White & Williams $5 million – $10 million 404
Kline & Specter $2 million – $5 million 150
Saltz Mongeluzzi $1 million – $2 million 75
Pond Lehocky $1 million – $2 million Not Listed
Zarwin Baum $1 million – $2 million 0
Anapol Weiss $1 million – $2 million 62
Elliott Greenleaf $1 million – $2 million 77
Simon & Simon $1 million – $2 million 109
Pietragallo Gordon $1 million – $2 million Not Listed
From the Pennsylvania Record: Reach Courts Reporter Nicholas Malfitano at nick.malfitano@therecordinc.com