Credit Application for US President Donald Trump Coronavirus

Real estate companies of the President of the USA, Donald Trump, knocked on the banks of the banks to alleviate the terms of credit debt due to the pandemic. The negative financial impact of the corona virus epidemic was cited on the grounds of applying to the bank for Trump Plaza in Manhattan.

Trump also applied to the bank for credit due to the corona

With the negative impact of the Corona virus epidemic on the economy, millions of people and businesses are knocking on the banks to get new loans or to shift their existing loans. One of these names was the Trump Organization, the company of Donald Trump, the president of the USA, which has the largest economy in the world.

According to Bloomberg’s report, Trump’s real estate company knocked on the banks of the banks to facilitate the loan used by the US for its trade center in the Manhattan area.

41 MILLION DOLLAR PLAZA

It was stated that the negative financial impact of the corona virus epidemic was justified in the rationale of the application to the bank for Trump Plaza in Manhattan, which is a small part of Trump’s real estate assets.

As a result of the application, details about whether there is an agreement between the bank and Trump’s company could not be reached.

Trump’s company used a $ 15 million refinancing loan for that plaza in 2015 from a commercial mortgage company Ladder Capital, and the value of the plaza at that time was measured at $ 41 million.

THERE IS A PREVENTIVE AGENT IN THE INCENTIVE LAW

Bloomberg pointed out that due to the crisis, tenants were unable to pay their rents, and therefore property owners were also financially difficult. For this reason, property owners are demanding restructuring, interest reduction and translation for their loans.

The New York Times also wrote that German Deutsche Bank AG knocked on the door for convenience in credit.

No explanation has been received from Trump’s company.

Golf resort companies, which Trump is a partner of, had applied for incentives for corona virus in Europe, but the incentive law approved in Congress in the USA contained a clause that would prevent the names of relatives in the administration, especially President Donald Trump, and companies of Congress members.

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  1. July 11, 2020

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