The Trump Organization is reportedly looking to delay or postpone some of its loan payments and other financial obligations, claiming financial hardships as the company tries to deal with the economic downturn due to the coronavirus pandemic- just like the rest of us.
According to a report in The NY Times, Trump Organization reps have reportedly reached out to Deutsche Bank to explore whether some of the company’s outstanding loans can be postponed.
Deutsche Bank has reportedly lent Trump and his companies around $2 billion since 1998, and his organization still owed about $350 million to the bank when he was elected in 2016.
Since Trump the “businessman” has declared for bankruptcy on a few occasions and defaulted on a number of previous loans, Deutsche Bank agreed to continue lending him cash as long as he agreed to allow seizure of some of his personal assets in the event that he stopped paying back the loans.
The Trump Organization has also reportedly contacted Palm Beach County officials to see if they were still expecting monthly lease payments on the 300 acres of land where Trump’s cherished Mar-a-Lago Club is located.
