yes I know, he was crying he couldn't afford child support when he had a 2.5 million home. But you and I have a opinion of what rich is and bidens have another , he will sell lie etc what ever he can to get money while big daddy's in office and he has something to trade.
Hunter Biden's art gallery gets $500,000 in China Virus relief.
- Thread starter Lionfish
- Start date
yes I know, he was crying he couldn't afford child support when he had a 2.5 million home. But you and I have a opinion of what rich is and bidens have another , he will sell lie etc what ever he can to get money while big daddy's in office and he has something to trade.
You have no friggin idea as to how this "loan" was constructed. I am very aware of the China virus relief packages dealt out to restaurants were doled out and many in the group I deal with were well over a million dollars and as long as they met criteria such as meeting the payroll of their stall, they are totally forgiven.
Lawsuits are being filed by other larger art galleries in NYC that got a fraction of what this one got.
From the article,
"Anderson said the Georges Bergès Gallery 'by far' received the heftiest COVID-29 relief package out of more than 100 galleries in New York City's 10th congressional district."
A federal COVID loan to the art gallery repping Hunter Biden more than doubled after his father took office, records show.
The Georges Berges Gallery initially received a $150,000 COVID “disaster assistance loan” from the Small Business Administration last year, according to public records.
***But the loan was recently “revised,” with the SBA approving a further $350,000 to the SoHo gallery this summer, records show.***
The approval came on July 26, in the lead-up to Berges’ exclusive marketing of 15 paintings by the president’s scandal-scarred son, public records show.
In addition to the COVID disaster assistance loans, the SoHo gallery received nearly $80,000 in two payments in April 2020 and February 2021 under the SBA’s Paycheck Protection Program, funds meant to help businesses keep up with paychecks to employees during the pandemic.
All tolled, $580,000 in taxpayer-funded COVID relief aid was doled out to a gallery with only two employees, according to SBA records."
https://nypost.com/2021/10/09/art-gallery-repping-hunter-biden-received-500k-covid-loan/
The Georges Berges Gallery initially received a $150,000 COVID “disaster assistance loan” from the Small Business Administration last year, according to public records.
***But the loan was recently “revised,” with the SBA approving a further $350,000 to the SoHo gallery this summer, records show.***
The approval came on July 26, in the lead-up to Berges’ exclusive marketing of 15 paintings by the president’s scandal-scarred son, public records show.
In addition to the COVID disaster assistance loans, the SoHo gallery received nearly $80,000 in two payments in April 2020 and February 2021 under the SBA’s Paycheck Protection Program, funds meant to help businesses keep up with paychecks to employees during the pandemic.
All tolled, $580,000 in taxpayer-funded COVID relief aid was doled out to a gallery with only two employees, according to SBA records."
https://nypost.com/2021/10/09/art-gallery-repping-hunter-biden-received-500k-covid-loan/
Never pet a burning dog.
The owner of the server has spoken.
Ya esta.
The Biden crime family has enriched itself, illegally, with the influence of the "Big Guy" (Joe) using his position of authority, the presidency.
Case closed.
There were 2 rounds of PPP loans. The money was capped based on number of employees and how much per employee a business could actually get.
The $10,000,0000 figure would require 500 employees and would get $20,000 per employee.
The gallery only got $75,161 in PPP money. The PPP database is easy to search and lists the amounts received by everyone that got money.
https://www.federalpay.org/paycheck-protection-program/georges-berges-galleries-llc-new-york-ny
The gallery got the first draw and the second draw as evidenced by the 2 payments.
Here is the form to apply for the forgiveness of the PPP. It only allows for forgiveness of the PPP.
https://www.sba.gov/sites/default/f...SBA Form 3508 PPP Forgiveness Application.pdf
The EIDL money is not forgivable other than the $10,000 targeted EIDL.
Until you can find me the form that one fills out to forgive an EIDL loan, you are full of shit.
The non targeted EIDL allows for loans up to $500,000 to any business that can state their business was hurt by Covid. The loans are at a 3.75% interest rate and the time period can be up to 30 year. Based on the comments by the gallery they did not get the targeted EIDL but got the original $200,000 loan and then when the law allowed they bumped it up to $500,000 under the changes. It is still a loan
He's one of theirs, the son of the "Big Guy."
You have no clue, as Lionfish, posted, as to how the loan was constructed... the amount of targeted and non-targeted or the EIDL funding.
Looks like you are full of mierda.
"Georges Berges Galleries LLC's 2019 payroll expenses are estimated to be at least $173,616.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $86,808 per employee1 "
The employees at an art gallery are earning 86.808K?
Good grief.
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Art galleries should be at the bottom of the list, or not on the list at all.
Good grief.
I have a very good idea how the loan was constructed because of the database of PPP loans and the law concerning EIDL loans.
In order to have the PPP loan forgiven, the company had to keep the employees on payroll. Restaurants have large numbers of employees but the restrictions for PPP were based on employee pay and number of employees. So a company with 200 employees could get a million dollar PPP loan. In fact you can enter the name of all those Restaurants into the PPP loan search engine and find exactly how much they got. But what a restaurant got in PPP loans doesn't change the fact that the gallery didn't get $500,000 in PPP forgiven since they didn't get $500,000 in PPP money.
Where is you evidence of any gallery filling a lawsuit? They would have no standing to do so. All someone had to do to get an EIDL loan is show they had losses during the time of Covid compared to previous years and they would be eligible for the maximum loan. Does that mean people that didn't really need the money to stay afloat took the loan? Of course. I'm sure lots of people looked at that $500,000 at 3.75% interest and thought they could make money by taking the loan, investing it in a 5-7% return vehicle over 30 years while paying the 3.75% interest. It would be perfectly legal for them to do that but I would question their ethics.
This is irrefutable..."A federal COVID loan to the art gallery repping Hunter Biden more than doubled after his father took office, records show.
The Georges Berges Gallery initially received a $150,000 COVID “disaster assistance loan” from the Small Business Administration last year, according to public records.
***But the loan was recently “revised,” with the SBA approving a further $350,000 to the SoHo gallery this summer, records show."***
$150K +$350K =$500K
For a 2 business owner business.
Question their ethics indeed...question them under oath.
The Georges Berges Gallery initially received a $150,000 COVID “disaster assistance loan” from the Small Business Administration last year, according to public records.
***But the loan was recently “revised,” with the SBA approving a further $350,000 to the SoHo gallery this summer, records show."***
$150K +$350K =$500K
For a 2 business owner business.
Question their ethics indeed...question them under oath.
As I just told Lionfish, I have a very good clue because I understand the actual mechanisms involved unlike you two idiots. PPP database is easy to search and gives out the names of every company that took money under the PPP.
https://www.federalpay.org/paycheck-protection-program
At salaries of $86,808 in NYC that is not a great salary. It is only a little bit above the median income for NYC in 2019 of $72,752. Two employees at an art gallery would be an owner and an assistant. They would likely both have college degrees. These are not people that just take tickets at the door. Their entire job would be arranging shows and showing artwork to high end purchasers. This isn't someone making fries at McDonald's. Much of their salaries might be based on commissions for what they sell. PPP is based on total compensation including bonuses and commissions from 2019. If the commission is 10% they probably took home $10,000 after expenses for selling 6 of Hunter Biden's pieces.
The OP has not been refuted by the spinning and shucking and jiving and obfuscation by the uninformed.
"The art of the COVID deal: Gallery selling Hunter Biden's paintings saw federal COVID-19 loan increased from $150k to $500k after his father Joe took office"
FIVE HUNDERD THOUSAND...not "the gallery only got $75,161 in PPP money."
A lie.
"The art of the COVID deal: Gallery selling Hunter Biden's paintings saw federal COVID-19 loan increased from $150k to $500k after his father Joe took office"
FIVE HUNDERD THOUSAND...not "the gallery only got $75,161 in PPP money."
A lie.
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Lose the grammar school insults. You suck at them.
You were caught in a lie and you and I and others on this forum know it.
Now, take a hike.
It is irrefutable that the law allowed any business that took out an EIDL loan for up to $200,000 in 2020 could increase that amount to $500,000. They followed the law.
A loan is a loan is a loan. It is not forgivable. It must be repaid unless the borrower defaults.
I wonder if anyone we know has ever defaulted on a loan.
I see you haven't provided any form that would allow anyone to not pay back an EIDL loan.
I have provided links to the PPP database where anyone can search to see what the gallery got in PPP loans.
https://www.federalpay.org/paycheck-protection-program
Simply enter "berges galleries" in the company name.
Indeed and get huge loans for a two man business that is forgivable. 500K