Legal Services

Businesses and organizations in the Legal Services industry (NAICS code 5411, part of the Professional, Scientific, and Technical Services sector) received 226,154 PPP loans totaling $17.77B during the COVID-19 pandemic.

The average loan for this industry was $78,572 — above the national PPP average of approximately $67,000. This reflects the small business character of most participants in this industry, typically sole proprietors and micro-businesses with modest payroll obligations.

97.8% of loans in this industry were forgiven — totaling $17.53B. To qualify for forgiveness, borrowers had to demonstrate that they maintained headcount and compensation levels and used at least 60% of loan proceeds for payroll expenses.

Notable recipients in this industry include VON BRIESEN & ROPER S.C. of MILWAUKEE, WI ($10,000,000); THOMPSON & KNIGHT LLP of DALLAS, TX ($10,000,000); and LEGILITY, LLC of BRENTWOOD, TN ($10,000,000).

The loan amount distribution for this industry shows a more even spread across loan sizes, suggesting a mix of small and mid-sized businesses. Because borrower names are withheld for loans under $150,000, a substantial portion of recipients in this industry may not appear by name in this dataset.

As part of the broader Professional, Scientific, and Technical Services sector — legal, accounting, architectural, engineering, research, advertising, and related services. — businesses in NAICS 5411 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.