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AMERICA’S WEALTHIEST TOOK MILLIONS IN PPP LOANS – AND NEARLY ALL HAVE BEEN FORGIVEN
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Original Message
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Political figures also cashed in on the government program.
Jared Kushner’s family were granted three PPP loans for their various businesses.
The Kushner family’s newspaper publisher Observer Holdings, LLC was approved in the first round of loans on April 27, 2020. The company got a $800,407 loan used toward payroll, utilities, rent and saved 41 jobs.
The loan, including interest, was forgiven in full.
The Kushner family hotel business Princeton Forrestal, LLC was approved for a $1,569,977 loan also in April 2020. The funds went to payroll, saving 196 jobs. The loan, including interest, was cleared.
Esplanade Livingston, LLC, which owns the land housing Kushner’s family’s Westminster Hotel in New Jersey, was granted a $630,735 loan, which went to paying 56 employees. The entire loan was forgiven.
House Speaker Nancy Pelosi’s husband Paul Pelosi has a 8.1percent share in EDI Associates, a restaurant business which took out two PPP loans.
EDI Associates, based in San Rafael, was granted a $711,708 loan. The loan went to the salaries of 52 employees.
EDI Associates, this time based in Sonoma, California, applied for a loan in February 2021, and was granted $996,392.
In both cases, the loans, including interest, were forgiven.
Read full article here:
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