Paul Pelosi-Linked Business Has Millions in PPP Loans Forgiven
Paul Pelosi-Linked Business Has Millions in PPP Loans Forgiven

By Jack Davis, The Western Journal

The Paycheck Protection Program created to help small businesses survive the pandemic by doling out loans to help them retain employees has been a bonanza for companies linked to the rich and famous, according to new reports.

The website ProPublica has amassed a searchable database of the loans, which media outlets have been exploring to find out how many rich recipients will never have to pay back a dime.

The trick is to know the corporate names of businesses in which the rich and famous either operate or have a share in.

Paul Pelosi, the husband of House Speaker Nancy Pelosi, has an 8.1 percent share in a company called EDI Associates, according to the U.K. Daily Mail.

The restaurant company received loans of more than $1.7 million from the federal government, which won’t have to be repaid, the Daily Mail reported.

EDI Associates was given two loans – one for $711,708 and the other for $996,392.

As the database shows, both loans have been forgiven. As noted by the Daily Mail, the decision to forgive a loan is based upon a formula that takes into account the number of employees retained and their wages.

The news about the husband of the House speaker raised eyebrows on social media.

Of course, Paul Pelosi wasn’t the only one of the nation’s elite who benefitted.

Khloe Kardashian, the reality star member of one of America’s most famous — or infamous — families was also in on the action, the Daily Mail reported.

Kardashian, who has a net worth of $60 million, owns a company called Good American LLC, which received a loan of $1,245,405, according to the Daily Mail.

Once again, as it was in Pelosi’s case and that of other wealth business owners. that loan was forgiven, the newspaper reported. The business had a payroll of 57 employees, according to the Daily Mail.

NFL star Tom Brady also got in on the game, according to the Daily Mail.

Brady operates a health-related business known as TB12 Inc.

The company’s PPP loan of $960,855 was forgiven, the Daily Mail reported.

The website MarketWatch noted that studies from Massachusetts Institute of Technology economics professor David Autor and Federal Reserve economists have estimated the Paycheck Protection Programs cost between $170,000 to $257,000 for every job saved.

The study also claimed that only about 23 percent of the money went to workers who would have lost their jobs if not for the loans.

This article appeared originally on The Western Journal.

Affiliate News Feeds

  • Reuters
  • Washington Examiner
  • The Federalist
  • The Epoch Times
  • The Guardian
  • The Gateway Pundit
  • Judicial Watch

By Patricia Tolson A new survey reveals that the majority of Americans do not trust the integrity of America’s elections. According to a poll conducted among likely General Election voters between Nov. 16–20… [...]

By Louise Chambers When her neighbor, a farmer, fell ill suddenly, a Minnesota teen volunteered to help him tend the land. The farmer was beyond grateful for the support, and the teen… [...]

EXCLUSIVE — U.S. air marshals are planning to stage an open rebellion against the Biden administration over a plan that would strip 99% of commercial flights from federal protection as… [...]

Attorneys general from 18 states are calling on UPS and FedEx to clarify their policies on shipping guns amid concerns about the companies being able to track gun owners without… [...]

Politico should have done far better than stating opinion as fact and blithely ignoring concerns that medical experts have raised. [...]

What the Rhine case reveals is the danger that a partnership between an equally politicized federal government and Big Tech presents to disfavored groups.  [...]

South Dakota Gov. Kristi Noem signed on Nov. 29 an executive order banning access to the video platform TikTok on state employee devices, citing its ties to Beijing. The governor’s… [...]

The U.S. Senate on Nov. 29 approved the “Respect for Marriage Act,” with a dozen Republicans crossing the aisle to vote yes. See below how each senator voted for the… [...]

Guardian unpicks complex web of investment firms, wealth funds and tax haven-based businesses that own most of sectorEngland’s water: the world’s piggy bankCan global water investors be held to account?England’s… [...]

Former lady-in-waiting to queen issues apology after Ngozi Fulani questioned over where her ‘people’ came fromThe late queen’s lady-in-waiting has resigned and apologised after a black guest at a reception… [...]

Surveillance video released this week shows a gunman ambush an on duty Philadelphia Parking Authority officer in the Frankford neighborhood, shooting him in the head in an attempted execution last… [...]

Even Democrats believe that the election in Arizona was a mess that impacted the outcome of the election.  Maricopa was a royal mess.  We all know it.  A new Rasmussen… [...]

Though years ago India passed a sweeping law giving transgender people rights—and prohibiting discrimination in education, employment, and healthcare—the Biden administration is spending American taxpayer dollars to counter stigma and… [...]

(Washington, DC) – Judicial Watch announced today that it filed a Freedom of Information Act (FOIA) lawsuit against the Department of Homeland Security (DHS) for all communications between the Secret… [...]

NH Politician

NH POLITICIAN is owned and operated by USNN World News Corporation, a New Hampshire based media company specializing in the collection, publication and distribution of public opinion information, local,...