Trump-Linked Firms Obtained PPP Loans

U.S. President Donald Trump is hosting an event about reopening schools amid the coronavirus disease (COVID-19) pandemic in the East Room of the White House in Washington, United States on July 7, 2020.

Kevin Lamarque | Reuters

Several companies linked to President Donald Trump have received millions of dollars in administration-backed small business assistance loans.

Trump is linked to companies and their leaders through trade deals with his company, the Trump Organization, as well as financial support for his 2016 presidential bid, nomination, and 2020 re-election campaign.

The names of more than 660,000 businesses that have been approved for Paycheck Protection Program loans were revealed Monday by the Treasury Department and the Small Business Administration. Loans went to businesses big and small as the coronavirus pandemic swept the country.

Other companies who are led by people with strong allegiances to the president also received help. An analysis by the Associated press shows that up to $ 273 million has been loaned to more than 100 companies owned or operated by Trump donors.

GH Palmer Associates, a real estate firm run by longtime Trump backer Geoffrey Palmer, has been approved for a loan. The company is listed as “GH Palmer Inc.” on the list of loans that have been distributed, but the company’s address matches that of Palmer’s real estate company in Beverly Hills, California. The company has been approved for a loan worth $ 350,000 to $ 1 million.

Palmer has been close to Trump for years. He was one of the many business leaders from Trump’s Coronavirus Business Advisory Board and combined to donate at least $ 4 million to the pro-Trump America First Action super PAC, according to the non-partisan Center for Responsive Politics.

Dezer Development, a real estate company founded by Michael Dezer, says on its website that it has the same address as Trump International Beach Resort in Miami, Florida. The Dezer’s website says its “branded real estate portfolio includes six Trump branded towers.” Dezer obtained between 350,000 and 1 million dollars of PPP.

Then there’s White Stallion Energy, an Indiana coal mining company, owned by Steven Chancellor. Coal executive would have met with former EPA chief Scott Pruitt to discuss relaxing a pollution law. White Stallion donated $ 175,000 to Trump’s inaugural committee. Below, he is shown shaking hands with Trump, along with Indiana Senator Mike Braun, when the president visited the state in 2018. White Stallion saw between $ 5 million and $ 10 million in PPP loans.

The business leaders mentioned in this story did not respond to requests for comment.

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