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 News first reported: Nancy Pelosi’s spokesman described Paul Pelosi as an investor in the firm, which turned up in loan-level disclosures for the program that were released Monday by the Treasury Department and Small Business Administration. […]
EDI Associates is listed as a recipient of a loan between $350,000 and $1 million. The same company was listed in Nancy Pelosi’s latest House financial disclosure report filed in May 2019, for the year 2018. […]
EDI Associates is listed in Pelosi’s disclosure form as located in Sonoma, California. It’s 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.
“He’s an investor. So, he was not aware the loan was applied for,” Drew Hammill, Pelosi’s deputy chief of staff, said in a statement to the business news outlet.
The revelation comes after Pelosi criticized the Trump administration’s handling of the PPP program. – READ MORE
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