Companies tied to DeLauro, Streicker received small business loans


WASHINGTON – In the running for Congress in Connecticut’s 3rd District, companies with ties to both candidates have received Paycheck Protection Loans.

Rep. Rosa DeLauro, D-3, and Margaret Streicker, their Republican challenger, are not uncommon. The multi-million dollar forgivable small business loans went to companies associated with members of Congress and their families, as well as congressional candidates, during the pandemic.

Greenberg Quinlan Rosner Research, the democratic polling firm founded by DeLauro’s husband Stanley Greenberg and run by their daughter Anna Greenberg, received on Jan.

Stanley Greenberg has neither ownership nor interests in the management of GQR nor knowledge of the decisions of GQR, said a spokeswoman for DeLauro. When he owned the Washington, DC-based company in 2016, it was worth $ 5 million to $ 25 million, as demonstrated by DeLauro’s 2017 financial disclosure form required by Congressmen and candidates.

DeLauro was unaware of GQR’s involvement in the loan program, her spokeswoman said.

Streicker, was also looking for a PPP loan for her business. Her real estate management company Fortitude Capital LLC received a $ 150,000-300,000 loan on April 27, SBA data shows. As a result of the loan, her company kept all but one employee, she said.

“My company was an emergency service, so we had to increase our staff and clean them more often and so on,” says Streicker.

Streicker does not receive any salary from the company, she said. She reported $ 100,001 to $ 1,000,000 in income from her property in Fortitude Capital for the first six months of 2020, according to her financial disclosure form.

Streicker founded Fortitude Capital in December 2019 after running another real estate management firm, Newcastle Realty Services, in New York City for 15 years. Streicker loaned their campaign $ 350,000 this year, according to Federal Election Commission filings.

No rules prohibit companies affiliated with congressmen or candidates from benefiting from the paycheck protection program during the coronavirus pandemic. But members of Congress are in a unique position to vote on the funding and structure of the program.

Other congress recipients from across the country are:

House Speaker Nancy Pelosi husband Paul Pelosi had interests in two hospitality companies. They received at least $ 2.4 million in PPP loans, data from the SBA shows.

United States Representative Kevin Hern, R-Okla., And his wife jointly own KTAK Corporation, which operates several McDonald’s restaurant locations in Tulsa, Oklahoma. KTAK received a $ 1 million to $ 2 million PPP loan in early April, SBA data shows.

US MP Rick Allen, R-Ga. Construction company received a PPP loan of at least $ 350,000, SBA data shows. US MP TJ Cox’s almond processing company, D-Calif, received a loan of between $ 150,000 and $ 350,000, SBA data shows.

There may be more members affiliated with companies that have received loans than are currently known. The SBA only released the names of companies that received $ 150,000 PPP loans. His rationale was that the loan amount reflects a company’s payroll and thus can reveal important business information about a company.

But the Pandemic Response Accountability Committee, a body of inspectors general that oversees government spending on coronavirus, has asked the SBA to release additional credit data revealing the names of recipients of loans over $ 25,000 The Wall Street Journal reported.

Although negotiations have stalled at the moment, there is a bipartisan agreement in Congress that the next coronavirus legislative package should include more relief for small businesses, which is likely to be tailored to those companies or industries that have a significant impact on revenue from the ongoing Pandemic.

“Of course, we urgently need another coronavirus relief package, and it has to include additional help to small businesses, the backbone of our local economy,” DeLauro said.

Streicker also spoke out in favor of more economic aid. She said it would be helpful if small businesses could get retroactive salary cuts during the pandemic, not just forward-looking. She also launched the ideas of wage and property tax exemptions to help troubled businesses.

“We are all in a difficult position,” she said. “I don’t think anyone would have thought it would take so long to get the economy going again.”

[email protected]; Twitter: @emiliemunson

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