Per Breitbart, a company connected to House Speaker Nancy Pelosi’s (D-CA) husband received a loan from the Trump administration’s $669 billion Paycheck Protection Program, a Small Business Administration-led fund designed to provide financial relief to businesses in the wake of the Chinese coronavirus pandemic.
Bloomberg reports a company tied to the husband of House Speaker Nancy Pelosi showed up among hundreds of thousands of recipients of loans from the $669 billion Paycheck Protection Program.
Paul Pelosi is “a minor, passive investor” in the firm, EDI Associates, said Drew Hammill, a spokesman for Nancy Pelosi. “He was not involved in or even aware of this PPP loan.”
On Monday night, Hammill said that Paul Pelosi’s stake was 8.1%.
The loan to the limited partnership that has an investment in a California hotel turned up in disclosures for the program that were released earlier Monday by the Treasury Department and Small Business Administration. In addition, three foundations associated with congressional caucuses were listed as loan recipients.
The partnership is listed as a recipient of a loan between $350,000 and $1 million. The company was listed in Nancy Pelosi’s latest House financial disclosure report filed in May 2019, for the year 2018. Paul Pelosi is a businessman and investor.
EDI Associates, which is listed in Pelosi’s disclosure form as located in Sonoma, California, is identified as a limited partnership with an investment in the El Dorado Hotel. The value of the asset on the form — identified as belonging to Pelosi’s spouse — is listed as between $250,001 and $500,000.
A number of other companies tied to federal lawmakers have surfaced in previous media reports as having accepted loans from the program, which is part of the $2 trillion CARES Act that Congress passed to counter economic damage from the coronavirus pandemic.
Pelosi had previously been a major critic of what she cast as the Trump administration’s concealment of PPP loan data. Last month, after the administration agreed to release some loan-level details, she praised the decision.