According to a new report, Nobu, a luxury restaurant chain co-founded by anti-Trump actor Robert Deniro received up to 28 million dollars in loans from the U.S. PPE program.
The program was designed by the Trump administration to help alleviate the economic pain inflicted on small businesses by the Coronavirus lockdowns.
As The Daily Wire reports:
Nobu, the international luxury chain of sushi restaurants and hotels, took up to $28 million in loans from the U.S. small business relief program as part of the Paycheck Protection Program (PPP), according to recently released government filings.
The chain, which includes 46 restaurants and 13 luxury hotels across the world, was co-founded by actor Robert De Niro, celebrity chef Nobuyuki “Nobu” Matsuhisa, and film producer Meir Teper. Nobu took 14 loans totaling as much as $27.7 million, CNBC reported. Because the Small Business Administration (SBA) provides only a range for loan sizes instead of precise dollar amounts, however, the Nobu group may have received as little as $11 million, CNBC said.
DeNiro, for the record, is worth an estimated $500 million.
“Restaurants were among the biggest recipients of the Paycheck Protection Program, a key component of the government’s response to the economic impact of the coronavirus pandemic. The news that big, well-funded chains like Shake Shack and Ruth’s Hospitality Group had initially gotten loans set off a furor in April, prompting the administration to warn companies to make sure they qualified for the program,” CNBC wrote.
— Old Ways (@JacksonMaine33) July 8, 2020