FOX 2 reports- The Mike Morse Law Firm announced Tuesday that they will return the $2 million of federal aid it received through the federal government’s Payroll Protection Program.
Here’s His Press Release: https://www.prnewswire.com/news-releases/mike-morse-law-firm-returns-2-million-ppp-loan-301058685.html
Morse hopes to help small businesses that are more in need and inspire other business owners to do the same.
“The PPP was designed for small businesses exactly like mine. Our law firm has 150 employees Our main source of income is from clients injured in car, truck and motorcycle accidents. With the courts closed and our roads nearly emptied the future is uncertain.”
In a public relations video, Morse talks about the widespread issue of large corporations and law firms getting millions from the program while major banks have siphoned off large chunks of the aid as well – leaving many small businesses out in the cold.
He said that he has confidence his firm will survive the current economic conditions and says he is doing this to help other small businesses.
“We can weather this storm while many businesses cannot. That is a major factor in our decision to give back this money,” Morse said in the video statement. “I couldn’t sleep at night knowing that the money we were given and not expected to pay back, would potentially close down other small businesses. It came down to fairness for me.”
