This Pelosi-Connected Business Scored a Massive $1 Mil COVID Bailout

(PresidentialWire.com)- A business linked to the husband of House Speaker Nancy Pelosi managed to score a huge loan from the Trump administration during the coronavirus pandemic. According to a Bloomberg News report, EDI Associates scored a massive loan from the $669 billion Paycheck Protection Program designed to help small businesses overcome the damage caused to the economy by lockdown measures.

Bloomberg reported that Paul Pelosi, Nancy Pelosi’s husband, is an investor of EDI Associated that was listed on a Monday report by the Treasury Department and Small Business Administration. The company is understood to have received a loan as large as $1 million, which totaled at least $350,000. This is the same company that Nancy Pelosi filed in a House financial disclosure report in May 2019, covering the 2018 financial year.

Pelosi has a lot to say about Trump and his response to the COVID outbreak, but surely a loan of between $350,000 and $1 million is pretty substantial. Would she rather the company she has a financial interest in had gone under, or is she thankful for the huge amount of support that Trump gave American businesses? It’s not clear, because she hasn’t said anything about it.

Bloomberg also reported that EDI Associates operates from Sonoma, California, according to forms filed by Pelosi.

“It’s identified as a limited partnership with an investment in the El Dorado Hotel,” Bloomberg added. “The value of the asset on the form – identified as belonging to Pelosi’s spouse – is listed as between $250,001 and $500,000.”

Drew Hammill, the deputy chief if staff for Pelosi, told Bloomberg that Paul Pelosi was an investor in the company and “was not aware the loan was applied for.”

Despite this, Pelosi continues her tirade against the president for his handling of the economic crisis. She claims that the administration didn’t do enough to ensure that funds from the Paycheck Protection Program went to small businesses on Main Street, and that big businesses were taking advantage of it.

Hey, if Pelosi really thinks that, will she be encouraging her husband to return the money and ensure that that money, whether it’s hundreds of thousands or even a million dollars, go to small businesses owned by people of color and members of the LGBTQIA+ community instead?

Come on, Nancy, do the right thing!