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Almost $4 Million in PPP Loans Reportedly Given to Trump, Kushner Properties

More than 25 loans worth over $3.65 million were given to properties owned and rented by President Trump and Jared Kushner according to an NBC News analysis

Real estate properties linked to President Donald Trump and his son-in-law Jared Kushner reportedly received over $3.65 million through loans part of the Paycheck Protection Program according to an NBC News analysis of data released by the Small Business Administration. 

Over 25 PPP loans were given to properties owned by the Trump Organization as well as the Kushner Companies, NBC said.

Fifteen of those properties said they kept one job at most or failed to report a number at all, reported NBC News–which was one of 11 news organizations that sued for the data's release.

A loan worth more than $2.16 million was given to a restaurant at the Trump Tower in New York City that later closed down.

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Four tenants at the Kushner family-owned office tower at 666, Fifth Avenue received loans of more than $204,000, NBC shared.

Separately, two other tenants at Trump Tower reportedly received more than $100,000 in aid.

"Many months and broken promises later, the court-ordered release of this crucial data while the Trump administration is one foot out the door is a shameful dereliction of duty and flagrant mismanagement of a program that millions of workers and small businesses needed to get through this pandemic,” Kyle Herrig, president of Accountable.US, an accountability watchdog, said in a statement to NBC News.

“Only now–after its hand has been forced, hundreds of thousands of small businesses have gone under, and millions of taxpayer dollars were wasted–has this administration pulled back the curtains to reveal the malpractice going on behind the scenes," added Herrig.

In March, the $2.2 trillion CARES (Coronavirus Aid, Relief and Economic Security) Act created the PPP with $349 billion in forgivable loans meant to go to small businesses and nonprofits badly hit by the coronavirus pandemic.