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Thursday, December 3rd, 2020

Release of PPP loan recipients’ data reveals troubling patterns

Author:     Ben Popken and Andrew W. Lehren
Source:     NBC News
Publication Date:     Dec. 1, 2020, 9:38 PM PST
 Link: Release of PPP loan recipients’ data reveals troubling patterns
Stephan:   As the Trump world comes to an end, every day seems to bring another new story about the utter dishonesty and sense of entitlement of Trump and his family. Everything is seen as an opportunity for yet another grift. Here is the latest.
Jared Kushner

Sweeping data released by the Small Business Administration on who benefited from pandemic relief programs raises questions about the equitability and distribution of loans intended for small businesses, an initial analysis by NBC News shows.

The analysis found that properties owned by the Trump Organization as well as the Kushner Companies, owned by the family of Jared Kushner, President Donald Trump’s son-in-law and senior adviser, profited from the program.

After months of litigation, the SBA released the dataset Tuesday night on every small business that received a Paycheck Protection Program (PPP) or Economic Injury Disaster (EIDL) loan.

The data reveals the most complete accounting to date of the more than $700 billion in forgivable loans Congress and the Trump administration introduced in the spring for allowable expenses, including payroll, rent, utilities and mortgage interest payments.

The analysis by NBC News, one of 11 newsrooms that sued for the release of data, also shows:

  • Over 25 PPP loans worth more than $3.65 million were given to businesses with addresses at Trump and Kushner real estate properties, paying […]
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