Company With Ties To Trump Receives Millions From Small Business Loan Program

[Rye Catcher]

This is why we need independent oversight for these vast sums of money going out...100 million in sales and still a "small business"....?

Company With Ties To Trump Receives Millions From Small Business Loan Program

Many businesses have struggled to get any money from the Paycheck Protection Program. But a company owned by a prominent Chicago family received a $5.5 million loan.

www.npr.org

While many small businesses have found it difficult or impossible to get one of the Small Business Administration's Paycheck Protection Program loans, a company owned by a prominent Chicago family with close ties to the Trump administration was able to get a $5.5 million loan under the program, according to documents the company filed with the Securities and Exchange Commission on Monday.

U.S. Ambassador to Belgium Ronald Gidwitz, who was appointed in 2018, was then-candidate Donald Trump's campaign finance chair for Illinois in the 2016 presidential campaign. According to filings with the SEC, Gidwitz's family owns the majority of Continental Materials Corp., which secured the 1% interest loan.

Continental Materials makes heating and cooling equipment and construction products. While it had more than $100 million in sales last year, it qualified for the loan because it meets the Small Business Administration's industry-specific "small business" size standards, according to company chief financial officer Paul Ainsworth.

Still, the company's loan is much larger than the typical PPP loan, according to a summary releasedby the Small Business Administration last week. The average loan was just over $200,000, and fewer than 1% of the loans under the program were greater than $5 million.

While the company may qualify as a small business under the PPP program, there are many much smaller businesses that have been unsuccessful in obtaining or even applying for the loans from their banks.

I've read that they have a bigger connection to obama,,,

"Some people are saying"? LOL, you might make a great talking head on Fox&Friends.

 

[Coyote]

This is why we need independent oversight for these vast sums of money going out...100 million in sales and still a "small business"....?

Company With Ties To Trump Receives Millions From Small Business Loan Program

Many businesses have struggled to get any money from the Paycheck Protection Program. But a company owned by a prominent Chicago family received a $5.5 million loan.

www.npr.org

While many small businesses have found it difficult or impossible to get one of the Small Business Administration's Paycheck Protection Program loans, a company owned by a prominent Chicago family with close ties to the Trump administration was able to get a $5.5 million loan under the program, according to documents the company filed with the Securities and Exchange Commission on Monday.

U.S. Ambassador to Belgium Ronald Gidwitz, who was appointed in 2018, was then-candidate Donald Trump's campaign finance chair for Illinois in the 2016 presidential campaign. According to filings with the SEC, Gidwitz's family owns the majority of Continental Materials Corp., which secured the 1% interest loan.

Continental Materials makes heating and cooling equipment and construction products. While it had more than $100 million in sales last year, it qualified for the loan because it meets the Small Business Administration's industry-specific "small business" size standards, according to company chief financial officer Paul Ainsworth.

Still, the company's loan is much larger than the typical PPP loan, according to a summary releasedby the Small Business Administration last week. The average loan was just over $200,000, and fewer than 1% of the loans under the program were greater than $5 million.

While the company may qualify as a small business under the PPP program, there are many much smaller businesses that have been unsuccessful in obtaining or even applying for the loans from their banks.

Lone Star...I am your mother's sister's nephew's former roommate

Well then Dark Helmet... what does that make us?

Absolutely nothing Lone Star...which is the exact factual content of this OP that links this loan to Trump .

you mean the op sounds a lot like most of what you guys post about Biden?

It is factual that family owning this business has strong ties to Trump. That's usually enough "fact" for the right.

I expect better from you. You're supposed to be one of the sane ones.

If you're telling me you're no better than the lowest political denominator I'll take you at your word...but that was not my prior position.

That is a fair point. Sometimes the low bar here gets to me and a slap is what I need.

My point here, really, is that this bill was poorly constructed. Everyone - Trump, Dem, and Republican - are influenced by lobbyists and I'm sure that allowed for the loose language in what is defined as a small business. In this area - trying to tighten it and impose greater oversight, the Dems were absolutely right. It's to bad they were unable to get more of what they wanted in that regard. As a result - the real small business' are getting crumbs, if anything at all. The second article I posted (from the same source) is even more damning and doesn't mention Trump.

 

[eddiew]

Trump has ties to huge numbers of people in business. ANd you found one that got money from a program designed to hand out money?


Shocking.

His former ambassador?? The man is crooked from his toes to the top of his head a skunk that will do anything he can to rip some one off Now he rips off America

 

[Coyote]

This is why we need independent oversight for these vast sums of money going out...100 million in sales and still a "small business"....?

Company With Ties To Trump Receives Millions From Small Business Loan Program

Many businesses have struggled to get any money from the Paycheck Protection Program. But a company owned by a prominent Chicago family received a $5.5 million loan.

www.npr.org

While many small businesses have found it difficult or impossible to get one of the Small Business Administration's Paycheck Protection Program loans, a company owned by a prominent Chicago family with close ties to the Trump administration was able to get a $5.5 million loan under the program, according to documents the company filed with the Securities and Exchange Commission on Monday.

U.S. Ambassador to Belgium Ronald Gidwitz, who was appointed in 2018, was then-candidate Donald Trump's campaign finance chair for Illinois in the 2016 presidential campaign. According to filings with the SEC, Gidwitz's family owns the majority of Continental Materials Corp., which secured the 1% interest loan.

Continental Materials makes heating and cooling equipment and construction products. While it had more than $100 million in sales last year, it qualified for the loan because it meets the Small Business Administration's industry-specific "small business" size standards, according to company chief financial officer Paul Ainsworth.

Still, the company's loan is much larger than the typical PPP loan, according to a summary releasedby the Small Business Administration last week. The average loan was just over $200,000, and fewer than 1% of the loans under the program were greater than $5 million.

While the company may qualify as a small business under the PPP program, there are many much smaller businesses that have been unsuccessful in obtaining or even applying for the loans from their banks.

Yeah.
You realize that the reason other businesses could not receive theirs is because twice the PPE has been stuck in Congress? Because Democrats were far more interested in tacking on all manner of pork and items in no way related to the Wuhanvirus.

Actually, looking at the big companies and franchises getting the biggest share of small business money, no. I disagree. The Republicans are way more interested in making sure their big time donors and lobbyists get squeezed into the definition of "small business" then they are in serving the real small business. Sounds like pork to me. Only they got away with it while most of the Dem pork, including some of the demands for stricter rules - was ditched.

 

[eddiew]

So I suppose if we could find a person that worked as a Gardner for Trump and was let go ten years ago they should not get a small business loan as a gardening business because he had ties to Trump ten years ago. Come on desperate much.

building straw men again?

 

[BlueGin]

Company With Ties To Trump Receives Millions From Small Business Loan Program

So what. You people have no problem with your Dem politicians in congress getting rich off the same programs. You are in no position to point a finger at Trump. Consider that before starting such a thread.

Exactly PBS ( which is linked to the Obamas) got 75 million dollars courtesy of Nancy Pelosi. Not a peep out of the liberal sheep.

 

[Rye Catcher]

This is why we need independent oversight for these vast sums of money going out...100 million in sales and still a "small business"....?

Company With Ties To Trump Receives Millions From Small Business Loan Program

Many businesses have struggled to get any money from the Paycheck Protection Program. But a company owned by a prominent Chicago family received a $5.5 million loan.

www.npr.org

While many small businesses have found it difficult or impossible to get one of the Small Business Administration's Paycheck Protection Program loans, a company owned by a prominent Chicago family with close ties to the Trump administration was able to get a $5.5 million loan under the program, according to documents the company filed with the Securities and Exchange Commission on Monday.

U.S. Ambassador to Belgium Ronald Gidwitz, who was appointed in 2018, was then-candidate Donald Trump's campaign finance chair for Illinois in the 2016 presidential campaign. According to filings with the SEC, Gidwitz's family owns the majority of Continental Materials Corp., which secured the 1% interest loan.

Continental Materials makes heating and cooling equipment and construction products. While it had more than $100 million in sales last year, it qualified for the loan because it meets the Small Business Administration's industry-specific "small business" size standards, according to company chief financial officer Paul Ainsworth.

Still, the company's loan is much larger than the typical PPP loan, according to a summary releasedby the Small Business Administration last week. The average loan was just over $200,000, and fewer than 1% of the loans under the program were greater than $5 million.

While the company may qualify as a small business under the PPP program, there are many much smaller businesses that have been unsuccessful in obtaining or even applying for the loans from their banks.

I'm curious....have you ever once pitched a bitch about the $100B per year spent on the Democrats pet wetbacks...If no, should we find you credible in matters such as these?

Who cares? We are discussing the stimulus money to small business'. Not your pet project.

As am I....My point, you have proven that you don't really care about how or where taxpayer monies are directed / appropriated. NOBODY even half sane and or fiscally responsible could agree with forcing good Americans to pay Mexico's filth to invade and ruin our nation....NOBODY.
Why would you think you can pretend you care about spending and expect to be taken seriously?

Do you eat lettuce, tomatoes and peaches? A good many of these products and other fruits and vegetables are picked, boxed and stored in grocery stores by the human beings you call the filth.

That said, I don't support illegal entry into the Unites States, but I don't believe filth describes the Mexican people. I've observed Mexican workers and they are good and hard workers, exploited by our own domestic filth, and jerks like you.

 

[depotoo]

Wow. Just amazing. And Shake Shack, got $10 million, and has ties to Democrats. I wonder how many more can be linked back to both parties?

Certainly possible there are many. AND AGAIN - this brings us back to the real problem with the initial bill - very loose definitions on what constitutes a "small business" and poor oversight. And the Republicans absolutely opposed adding greater oversight or tightening the language. As soon as they began on the bills lobbyists flooded the capital to lobby for their share.

In the meantime a lot of genuine small business' can't get anything.

No, this article was written to try to blame Trump. If you deny it, you are lying. They chose only to highlight association with a single company as though he was sitting there at the bak approving the loan applied for. How convenient.

 

[Rye Catcher]

Company With Ties To Trump Receives Millions From Small Business Loan Program

So what. You people have no problem with your Dem politicians in congress getting rich off the same programs. You are in no position to point a finger at Trump. Consider that before starting such a thread.

Exactly PBS ( which is linked to the Obamas) got 75 million dollars courtesy of Nancy Pelosi. Not a peep out of the liberal sheep.

No wonder you are so ignorant, you probably couldn't find a PBS or NPR station if your life depended on it.

 

[ColonelAngus]

Trump is HITLER! Every thing Trump has ever done is exactly the wrong thing to do. If we had a President who did everything the exact opposite, we would all be billionaires

 

[Rye Catcher]

Wow. Just amazing. And Shake Shack, got $10 million, and has ties to Democrats. I wonder how many more can be linked back to both parties?

Certainly possible there are many. AND AGAIN - this brings us back to the real problem with the initial bill - very loose definitions on what constitutes a "small business" and poor oversight. And the Republicans absolutely opposed adding greater oversight or tightening the language. As soon as they began on the bills lobbyists flooded the capital to lobby for their share.

In the meantime a lot of genuine small business' can't get anything.

No, this article was written to try to blame Trump. If you deny it, you are lying. They chose only to highlight association with a single company as though he was sitting there at the bak approving the lan applied for. How convenient.

One data point, maybe before you whine about the poor Orange Man, you might want to do some research and see how much of the 2 Trillion bill he signed has been distributed to big businesses and industries, and how little has been sent to small business and individuals whose rents are past due? Oh, and those big businesses who got millions (some billions), are hotels (funny that) and the Air Industry such as Boeing which shot itself in the foot with two crashes and their response, "we demand taxpayer money" (with no strings attached).

Oh, and do you know trump fired the oversight of the 2 trillion dollars of are money by firing the IG?

 

[sartre play]

Pork go's in every bill, we have learned to live with that, now that both party's seem unwilling to do much compromising the party with the most juice rips us off the most, gotta have the million dollar donator get what they need, so the multi millions needed to win elections can continue. & we regular working folks come last.

 

[Maxdeath]

So I suppose if we could find a person that worked as a Gardner for Trump and was let go ten years ago they should not get a small business loan as a gardening business because he had ties to Trump ten years ago. Come on desperate much.

building straw men again?

Just asking where do you want to draw the line? Casual meetings? Someone that knew him years ago? Someone that actually works for him? Was there any evidence that he in anyway intervened in the decision to give the loan?

 

[Bootney Lee Farnsworth]

This is why we need independent oversight for these vast sums of money going out...100 million in sales and still a "small business"....?

Company With Ties To Trump Receives Millions From Small Business Loan Program

Many businesses have struggled to get any money from the Paycheck Protection Program. But a company owned by a prominent Chicago family received a $5.5 million loan.

www.npr.org

While many small businesses have found it difficult or impossible to get one of the Small Business Administration's Paycheck Protection Program loans, a company owned by a prominent Chicago family with close ties to the Trump administration was able to get a $5.5 million loan under the program, according to documents the company filed with the Securities and Exchange Commission on Monday.

U.S. Ambassador to Belgium Ronald Gidwitz, who was appointed in 2018, was then-candidate Donald Trump's campaign finance chair for Illinois in the 2016 presidential campaign. According to filings with the SEC, Gidwitz's family owns the majority of Continental Materials Corp., which secured the 1% interest loan.

Continental Materials makes heating and cooling equipment and construction products. While it had more than $100 million in sales last year, it qualified for the loan because it meets the Small Business Administration's industry-specific "small business" size standards, according to company chief financial officer Paul Ainsworth.

Still, the company's loan is much larger than the typical PPP loan, according to a summary releasedby the Small Business Administration last week. The average loan was just over $200,000, and fewer than 1% of the loans under the program were greater than $5 million.

While the company may qualify as a small business under the PPP program, there are many much smaller businesses that have been unsuccessful in obtaining or even applying for the loans from their banks.

This is exactly what happens when politicians are allowed to use a pandemic to raid the treasury. Follow the money.

Who else got paid?

.

 

[depotoo]

Wow. Just amazing. And Shake Shack, got $10 million, and has ties to Democrats. I wonder how many more can be linked back to both parties?

Certainly possible there are many. AND AGAIN - this brings us back to the real problem with the initial bill - very loose definitions on what constitutes a "small business" and poor oversight. And the Republicans absolutely opposed adding greater oversight or tightening the language. As soon as they began on the bills lobbyists flooded the capital to lobby for their share.

In the meantime a lot of genuine small business' can't get anything.

No, this article was written to try to blame Trump. If you deny it, you are lying. They chose only to highlight association with a single company as though he was sitting there at the bak approving the lan applied for. How convenient.

One data point, maybe before you whine about the poor Orange Man, you might want to do some research and see how much of the 2 Trillion bill he signed has been distributed to big businesses and industries, and how little has been sent to small business and individuals whose rents are past due? Oh, and those big businesses who got millions (some billions), are hotels (funny that) and the Air Industry such as Boeing which shot itself in the foot with two crashes and their response.

Oh, so you know Trump was sitting at those banks overseeing the loans that got approved, right?

 

[eddiew]

Company With Ties To Trump Receives Millions From Small Business Loan Program

So what. You people have no problem with your Dem politicians in congress getting rich off the same programs. You are in no position to point a finger at Trump. Consider that before starting such a thread.

Exactly PBS ( which is linked to the Obamas) got 75 million dollars courtesy of Nancy Pelosi. Not a peep out of the liberal sheep.

No wonder you are so ignorant, you probably couldn't find a PBS or NPR station if your life depended on it.

Guess the 180,000 each of trumps sons ladies get ,is Obama's fault too?

 

[Correll]

Trump has ties to huge numbers of people in business. ANd you found one that got money from a program designed to hand out money?


Shocking.

You seem to know who he does business with. Lets hear it?

I know that he did business with a lot of people, being a real estate billionaire and all.


That is what my statement was about.

Yours? Seemed to be about you being stupid.

 

[Correll]

Trump has ties to huge numbers of people in business. ANd you found one that got money from a program designed to hand out money?


Shocking.

This isn't just some random company that happened to have ties to Trump. It is his Campaign Finance Chair for Illinois, and the man he named as ambassador to Belgium, and the company did more than 100 million dollars of business last year who got 5.5 million by claiming to be a small business. Everything and everybody associated with that obese orange fool turns out to be a scam taking money from people who really deserve it.

Ok, now show that A other big businesses are not doing the same, and the B. Trump or someone close to him had any involvement.


Otherwise, it's a nothing burger.

The fact that big companies were quickly given all the money, leaving none for real small businesses doesn't justify anything. WTF is wrong with you to think that it would?

Oh, so, your dropping the whole, this accusation of Trump and personal corruption and changing the subject to the way that big businesses are so good at playing any system to their own benefit?


Love to talk about that. First, clearly state that you are dropping the whole anti-Trump nonsense.


I don't want you circling back to it, like you Wallys always do.

 

[Correll]

Trump has ties to huge numbers of people in business. ANd you found one that got money from a program designed to hand out money?


Shocking.

Key Terms for those suffering TDS (Trump Defense System): Independent Oversight.

Key Term for you, how about cutting and pasting the part of the article that showed any actual hint of anything wrong?

I haven't made a claim about wrong doing - yet. The point is - the Dems are right. This needs independent oversight, that you guys resist! People who need this money aren't getting it. The real small business!

Your walking it back is noted. I like the way you laid the ground work for coming back to it later, to smear Trump again. Where if you are called on how silly it is, you will drop it again. Until the next time.

Pretty smooth. I give you a 8.5 on that one, wally.

 

[Correll]

Trump has ties to huge numbers of people in business. ANd you found one that got money from a program designed to hand out money?


Shocking.

Corruption has many friends, some of trumps are now in prison.

Witchhunts are tough to control. Hell, look at Biden being accused of rape.