Only in America: vicious Trump Critic Robert De Niro’s Nobu Took $28-M in Taxpayer Loans

Only in America: vicious Trump Critic Robert De Niro’s Nobu Took $28-M in Taxpayer Loans

#Nobu #DeNiro #PPP #Loans #America #Taxpayer #luxury #restaurant #hotel #sushi #SBA #Hollywood #coronavirus

Nobu, the international luxury chain of sushi restaurants and hotels has taken $27.7-M in loans from the SBA relief program as part of the Paycheck Protection Program (PPP), according to recently released government filings.

The chain includes 46 restaurants and 13 luxury hotels around the world, was co-founded by Hollywood actor Robert De Niro, chef Nobuyuki “Nobu” Matsuhisa, and film producer Meir Teper.

Nobu took 14 loans totaling about $27.7-M. Because the Small Business Administration (SBA) provides only a range for loan sizes instead of precise dollar amounts.

Mr. DeNiro, the vicious outspoken Trump critic is worth $500-M+

“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 C-19 coronavirus chaos.

The news that big, well-funded chains like Shake Shack and Ruth’s Hospitality Group had initially gotten loans set off a major outcry in April, prompting the administration to warn companies to make sure they qualified for the program. The firestorm erupted in April when it was revealed that large corporations received billions of USDs, prompting many to return the loans

Some other large chains, including Five Guys, Dig Inn, Mod Pizza, and Chopt received PPP loans of at least $5-M.The

PPP fund totals hundreds of billions of dollars and was intended to help small businesses survive the loss of revenue as The China Virus swept the nation.

While the government aid/relief money is called “loans,” they are forgivable if the businesses that received them can show they used the money to continue paying their employees.

Have a healthy day, Keep the Faith!

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Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he it the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.