9/7/2023 0 Comments Ppp loans large companies![]() What the post says: "Trump’s campaign manager’s company"ĬloudCommerce, a digital marketing company whose largest shareholder is Brad Parscale, Trump’s campaign manager, received between $350,000 and $1 million from the PPP, according to CBS News and the loan database.īetween 20, CloudCommerce acquired several of Parscale’s companies, and he joined the company’s board of directors. The Facebook post notes she is married to Senate Majority Leader Mitch McConnell, R-Ky. ![]() The Foremost Group is not listed on Chao’s 2017 financial disclosure, but her relationship with the company has been the subject of a House of Representatives ethics investigation. Contrary to what the Facebook post says, Chao herself did not receive a loan. The Foremost Group received between $350,000 and $1 million, according to the loan database. A shipping business run by her family benefited from the PPP. ![]() Who got the money: The Foremost Group LLCĬhao is the U.S. What the posts: "Mitch McConnell’s wife, Elaine Chao" Hollwich Kushner Architecture, a firm headed by Marc Kushner, Jared Kushner’s first cousin, received between $150,000 and $350,000. It was named after Kushner’s grandfather and is supported by the family. The Joseph Kushner Hebrew Academy in Livingston, N.J., received between $1 million and $2 million. Observer Holdings LLC, the parent company of Observer Media - which Kushner used to run and is currently owned by his brother-in-law’s investment firm - received between $350,000 and $1 million.Ī company called Princeton Forrestal LLC - 40%-owned by Kushner relatives, according to a 2018 securities filing analyzed by the Daily Beast - received between $1 million and $2 million.Įsplanade Livingston LLC, a company connected to the Kushners, received between $350,000 and $1 million. Several companies connected to the family of the president’s son-in-law benefited from the PPP, according to reports from ProPublica and the Daily Beast. Who got the money: Several companies wholly or partially owned by the Kushners What the post says: "Jared Kushner’s family" According to the PPP loan database, Yeezy received between $2 million and $5 million. Prior to a July 8 interview in which he said he is no longer supporting the president, West was one of Trump’s biggest celebrity supporters. ![]() What the post says: "Kanye West’s company, Yeezy" We took a look at the database, as well as news reports, to see how each person mentioned in the Facebook post is connected to PPP beneficiaries. The loan database released by the SBA and the Treasury Department does not specify exactly how much money each entity received. Others own stakes in PPP beneficiary companies or have more indirect relationships. A Wall Street Journal report lists 103 public companies that got more than $380 million in PPP loans.Some of the Republicans mentioned in the Facebook post directly benefited from PPP loans. Overall, more than 100 public companies have received nearly $500 million in PPP funds, according to Footnoted, an information service focused on Securities and Exchange Commission filings. See: Here’s why big chains like Shake Shack got the coronavirus aid for small businessesĪnd read: Shake Shack says ‘confusing’ small-business loan program needs to change Operators of large restaurant and hotel chains were specifically given a green light to get Paycheck Protection Program loans in the $2.2 trillion aid package known as the CARES Act, which was signed into law by President Donald Trump last month after getting approved by the Republican-led Senate and Democratic-run House. , which on Monday said it was returning its $10 million PPP loan. , which has reported getting $20 million in PPP loans and burger chain Shake Shack Inc. , which has disclosed receiving $30 million in Paycheck Protection Program loans Ruth’s Chris Steak House parent Ruth’s Hospitality Group Inc. Not included in the bank’s chart are hotel REIT Ashford Hospitality Trust Inc. ![]() Here are 40 public companies that have received PPP loans. ![]()
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