Wall Street investment firms scored emergency government loans amid pandemic

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BOSTON (REUTERS) - Some investment firms, including those that run hedge funds or manage money for wealthy investors, are among the businesses approved for emergency US government loans to help small companies and non-profits pay employees during the coronavirus lockdown, according to data made public on Monday (July 6).. Read more at straitstimes.com.

BOSTON - Some investment firms, including those that run hedge funds or manage money for wealthy investors, are among the businesses approved for emergency US government loans to help small companies and non-profits pay employees during the coronavirus lockdown, according to data made public on Monday .

Emails to the firms seeking comment were not immediately returned. The data does not track which loans were disbursed, paid back, or if they will qualify for forgiveness. Many investment and wealth management firms are relatively small, and staff pay varies widely, often far from the stereotype of the billionaire jet-set financier. Unlike restaurants and hotels, many financial businesses remained open during the coronavirus-related lockdowns and shifted relatively smoothly to remote work.

 

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