Recently, the Trump family business took out a massive loan — I’m talking a staggering $100 million, massive — to refinance Trump Tower. But middle son and Trump Organization executive vice president Eric Trump apparently wants everyone to know that yea, they got the loan, but it’s not because they’re broke or in debt.
Yea, I laughed too.
Forbes Magazine reported yesterday:
Donald Trump refinanced Trump Tower in February, taking out a $100 million loan, according to documents recorded Tuesday by New York City’s Department of Finance. Trump’s previous mortgage on his flagship piece of real estate, $100 million from commercial real estate investment trust Ladder Capital, was scheduled to come due in September.”
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In the last few weeks, multiple experts have theorized that Trump and the family business would likely face a brutal uphill battle with regard to refinancing the ex-president’s extensive, mounting debts after the Trump Organization’s accounting firm, Mazars, broke up with the former president’s company on Valentine’s Day and publicly stated that a decade’s worth of their statement’s regarding Donald Trump’s financial standings “should no longer be relied upon.”
It seems the Trump Organization was eventually able to overcome this brutal barrier and finally secure a loan, but only by going through an online or virtual bank that’s run by one of the ex-president’s supporters.
Forbes goes on to report, “The financing came from Axos Bank of San Diego, which launched in 2000 as Bank of Internet USA. Its CEO, Gregory Garrabrants, has contributed $50,000 to Republican campaigns, including $9,600 in support of Trump, since 2012, according to records with the Federal Election Commission.”
Now, the one-term, twice-impeached former president’s middle son, who’s obviously still desperate for his daddy’s love, has spoken out to directly address the massive loan that he personally signed for in his capacity as “president of Trump Tower Commercial LLC.”
“Trump Tower is one of the most iconic properties in the world and sits on arguably the most prestigious corner in all of New York,” Eric Trump reportedly said, going on to claim, “We have incredibly low debt, have a tremendous amount of cash and have an extremely profitable company. We had no problem refinancing.”
The $100 million loan that the Trump family business recently secured from the online bank is conveniently the same amount Eric previously discussed during a round of golf with famous golf writer James Dodson, back in 2014. In 2017, Dodson spoke to Boston’s public radio station about the conversation he had with the middle Trump son, in which Eric allegedly claimed to have access to $100 million.
“Well, we don’t rely on American banks. We have all the funding we need out of Russia,” Eric Trump allegedly stated at the time, during his conversation with Dodson.
Funny how it all shakes out, huh?
You can read the full report from Forbes here.
Featured image via Flickr/Gage Skidmore, under Creative Commons license 2.0
