Trump Organization and Kushner Companies have received pandemic relief loans: report

Businesses of properties owned by the Trump organization and President TrumpDonald John Trump Trump hints at possible 2024 White House run, remarks Trump threatens to veto Tech Liability Shield defense bill Tiger King’s lawyer thinks they’re on the verge to get forgiveness from Trumpson-in-law of Jared kushnerJared Corey Kushner’s lawyer Tiger King believes they are on the verge of Trump’s forgiveness Trump discussed possible pardons for three eldest children, Kushner: Trump report, Kushner, White House chased by watchdog to prevent illegal deletion of official emails, WhatsApp PLUS messageshis family would have received more than two dozen Paycheck Protection Program (P3) loans valued at over $ 3.65 million.

An analysis by NBC News of Small Business Administration (SBA) data released Tuesday evening found that millions of dollars have been paid to companies located at the properties of the Trump Organization and Kushner Companies which pay rent to both companies.

NBC reported that 15 of these properties said that after receiving the PPP loans, they kept only one employee, did not keep any employees, or did not report the number of workers they retained.

Among the loans was one for $ 2,164,543 to Triomphe Restaurant Corp., located at the Trump International Hotel & Tower in New York. The company said the money was not being used to keep jobs. The restaurant closed later.

Additionally, NBC reported that two tenants at Trump Tower in New York City received more than $ 100,000 and kept just three jobs, while four tenants at 666 5th Avenue, owned by Kushner Companies, received a total of over $ 204,000 and held only six jobs.

A company called LB City Inc., which is located at the Bungalow Kushner Companies hotel in Long Branch, NJ, kept 155 jobs after receiving a loan of $ 505,552.50.

SBA data also showed that more than 100 loans were made to companies where no business names were listed or who said there were “no names available,” according to NBC.

More than 300 companies appear to have received more than $ 10 million in loans, although the loan program states that companies should not receive as much, with the exception of companies in the food and hospitality sectors. or the hotel industry.

NBC was one of 11 news agencies that sued the SBA over the data. In early November, a federal judge ordered the agency to disclose the names, addresses and specific amounts of loans issued under the PPP program and emergency disaster loans.

Kyle Herrig, chairman of watchdog group Accountable.US, said in a statement to NBC that “the court-ordered release of this crucial data while the Trump administration is one step away is a shameful dereliction of duty and blatant mismanagement of a program that millions of workers and small businesses needed to get through this pandemic.

The PPP program, launched in April under the CARES (Coronavirus Aid, Relief and Economic Security) law, aimed to provide support and relief to small businesses affected by health restrictions and lockdowns amid the pandemic of coronavirus.

Christopher W. Smith, general counsel for Kushner Companies, said in an e-mailed statement to The Hill: “The notion that Kushner’s companies have somehow benefited improperly from program loans. The Paycheque Protection (PPP) of the CARES Act is totally bogus and has nothing but political motivation. absurdity.”

“Exactly two hotel operating subsidiaries of Kushner Companies have received PPP loans,” he added. << Each provision of the PPP program has been fully respected for each of the two loans – and every penny of funds received from the program has been used to fund employee payrolls and benefits to maintain jobs threatened by the COVID pandemic and associated lockdown measures. “

The Trump Organization did not respond to a request for comment from The Hill.

Government responsibility groups questioned the effectiveness and management of PPP loans, with uncertainty over what was considered a small business and allegations of a lack of transparency about how loans were administered.

Tuesday night, The Washington Post reported that more than half of the PPP fund money went to just 5% of beneficiaries, while around 600 companies, mostly larger, including dozens of national chains, received the maximum amount allowed of $ 10 million.

A spokesperson for the SBA said in a statement with the data release Tuesday night that “the historically successful Covid relief loan programs have helped millions of small businesses and tens of millions of American workers when they needed it most.