Trump Org asks lender, landlord for a break

The company is barred from receiving assistance from the $2T stimulus package

National /
Apr.April 03, 2020 09:45 AM
President Donald Trump and Deutsche Bank CEO Christian Sewing (Credit: Trump byMANDEL NGAN/AFP via Getty Images; Sewing by Thomas Lohnes/Getty Images)

President Donald Trump and Deutsche Bank CEO Christian Sewing (Credit: Trump byMANDEL NGAN/AFP via Getty Images; Sewing by Thomas Lohnes/Getty Images)

The Trump Organization, like many other companies, is hoping its lender will cut it a break.

While it loses a million dollars a day to the coronavirus pandemic, the Trump Organization has been exploring whether it can delay payments on some of its debts, the New York Times reported.

The company reached out to both its largest lender, Deutsche Bank, to see if it could postpone some loan payments. It also inquired with Palm Beach County to see if the county was still expecting monthly payments on the land for a 27-hole golf course it leases from the government.

The Trump Organization is certainly not alone in asking for a reprieve, as the broader hospitality industry reels from the coronavirus. The company closed the Mar-a-Lago club in Florida, as well as numerous golf courses in New Jersey and New York as the country practices social distancing to slow the spread of the coronavirus.

Trump properties were barred from receiving direct support from the $2 trillion stimulus package that President Donald Trump signed last week. It is not clear if the company was successful in its negotiations with lenders. [NYT] — Georgia Kromrei


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