Hunter Biden's art gallery gets $500,000 in China Virus relief.

[Bulletbob]

Um... I hate to inform you, he's already rich. The Ukrainian gas company paid him $83,333 per month to be Joe Biden's son.

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.

[Lionfish]

Did you read your link?

PPP Loans are forgivable. EIDL are not listed as forgivable and they require that the borrower put up assets to guarantee the loan.



The second round of targeted EIDL loans allowed for up to $10,000 to be forgivable if you were in a low income area but the $500,000 under the standard EIDL was not forgivable



So basically, this is a loan from a bank. It is guaranteed by the government but it basically costs the government little unless the borrower defaults.

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."

[Earl]

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-ga...0k-covid-loan/

[Lionfish]

The fact ANY lefties are involved in this thread surprises me. Hunter Biden is a total joke and a waste of skin as a human being let alone the son of a President.
I would think the malcontents would run and hide every time this scumbags name is mentioned.

[Lionfish]

Causation is different than correlation.

Temporal occurrence does not necessarily relate to causation.

Never pet a burning dog.

[Earl]

Um... I hate to inform you, he's already rich. The Ukrainian gas company paid him $83,333 per month to be Joe Biden's son.

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.

[Poor Richard Saunders]

No, wrong.

"First-time (First Draw) PPP loans up to $10 million can be completely forgiven.
Second Draw forgivable loans are capped at $2 million."

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-...lc-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/fi...pplication.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 Targeted EIDL Advance program, which is the most restrictive program authorized under the CAA, makes up to $10,000 available to applicants located in low-income communities who previously received an EIDL Advance for less than $10,000, or those who applied but received no funds due to a lack of available program funding.

I sincerely doubt the the art gallery is in a "low-income community."

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

[Earl]

The fact ANY lefties are involved in this thread surprises me. Hunter Biden is a total joke and a waste of skin as a human being let alone the son of a President.
I would think the malcontents would run and hide every time this scumbags name is mentioned.

He's one of theirs, the son of the "Big Guy."

[Earl]

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-...lc-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/fi...pplication.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

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.

[Earl]

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."

Art galleries should be at the bottom of the list, or not on the list at all.

Good grief.

[Poor Richard Saunders]

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."

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.

[Earl]

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.

[Poor Richard Saunders]

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.

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.

[Earl]

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.

[Earl]

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.

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.