Paul Pelosi benefits big with PPP forgiveness, company won’t repay millions
Paul Pelosi, the husband to House Speaker Nancy Pelosi (D-CA), is linked to a company that saw millions in loans forgiven through the Paycheck Protection Program.
The Paycheck Protection Program was a national mainstay at the height of the pandemic to help small businesses make their way through a marred economy and retain employees.
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However, elites also took advantage of the program, and Paul Pelosi might have benefited, according to a report.
Pelosi, who made headlines last month after crashing his Porsche before failing a sobriety test, has a reported 8.1% share in EDI Associates.
EDI Associates, a restaurant-based company, will not have to repay two loans worth a total of $1.7 million in federal government loans, according to the report.
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The two loans totaled $711,708 and $996,392, respectively, and both loans were forgiven.
Other notable figures benefiting from Paycheck Protection Program loan forgiveness include Khloe Kardashian, Tom Brady, and Reese Witherspoon.