SOUTHFIELD, Mich., May 13, 2020 /PRNewswire/ -- Mike Morse Law Firm announced today that the firm will return the two million dollars it received through the federal government's Payroll Protection Program, and they are encouraging other businesses that have been able to survive the hit from the COVID-19 pandemic to return money they received as well.
The intent of the PPP loans was to give small business the funding necessary to survive the Coronavirus shutdown and help keep workers employed. However, many large corporations and law firms applied for and received millions from this fund depleting the vast majority of the $350 billion allotted in phase one in just three weeks. This has resulted in many small businesses, who are in dire need, having their applications denied due to the lack of funds available.
"With courts closed and our roads nearly empty, the future is uncertain. But what is certain is that we have had great success and we will continue long after this virus is gone. We can weather this storm, while many businesses cannot. That is a major factor in our decision in returning the money," said Mike Morse, founder of Mike Morse Law Firm. "I could not sleep at night knowing that the money we were given, and not expected to pay back, would potentially close other small businesses. It came down to fairness for me. If you find yourself in the same situation, I'm asking you to do the same thing. Be a leader. God knows we need them right now."
The Payroll Protection Program was designed for small businesses like Morse's. His law firm employees 150 legal professionals with its main source of income coming from clients involved in car, truck and motorcycle accidents. With COVID-19 and Governor Whitmer's Stay-at-Home order, the amount of new cases the firm handles has been more than cut in half. However, Morse has not laid off a single employee, a decision he made early on in the crisis.
About Mike Morse Law Firm
Since 1995, the Mike Morse Law Firm has been protecting the rights of Michigan auto accident and injury victims. They are Michigan's largest personal injury firm, specializing in auto, truck, pedestrian and motorcycle accidents as well as Social Security disability claims. They are experts in Michigan's No-Fault Act. Since opening their doors in 1995, the firm has won over one billion dollars for its clients. Mike Morse Law Firm handles cases throughout the state of Michigan, with a main office in Southfield. To learn more, call (248) 350-9050 or visit www.855mikewins.com.
SOURCE Mike Morse Law Firm