Documents show where Trump is getting his loans now that large banks won't lend to him

[Yo_Mama_Been_Loggin]

Former President Donald Trump has faced a crisis in bank lending for his business operations. The Trump Organization was the company behind "The Apprentice" and business leaders clamored to "win" a competition that would legitimize their careers. Now it's Trump who needs help appearing trustworthy to anyone who can lend him money and he's going to a few odd places searching for capital.

According to NBC News, Trump Tower was refinanced with a $100 million loan from Axos Financial, an obscure internet-only bank in San Diego and Las Vegas, financial documents from New York City's municipality revealed. According to those documents, the loan was made just days after an auditor from the Trump Organization quit, claiming that none of the financial statements for the past 10 years could be trusted.

-snip-

"Axos has teamed up with nonbank lenders on loans to small businesses that carried cripplingly high double- and triple-digit effective annual interest rates," reported NBC, citing loan documents. "The bank has also specialized in loans to foreign nationals, internal documents and its website state, and has offered a type of loan that allows borrowers who paid cash for a property to turn around and instantly take money out. Such loans may pose money laundering risks, banking analysts say."

They're also involved in a lawsuit with two former employees who had questions about the way Axos was conducting its lending operations. One of those, Jennifer Brear Brinker, worked in the company's Risk Management and Compliance Department. She alleges that Axos intentionally understaffs the compliance team “in an effort to conceal its failure to comply with federal banking regulations” and contends she was terminated in January 2021 while completing a report highlighting deficiencies at Axos including “significant issues in the bank’s anti-money laundering practices.”

https://www.msn.com/en-us/news/politics/documents-show-where-trump-is-getting-his-loans-now-that-large-banks-wont-lend-to-him/ar-AAVYo3U

[I_UndergroundPanther]

1. In other words

A criminal bank for criminals

[Demovictory9]

6. mob banksters

[Hoyt]

2. Broke, feeble, GOPer friends ignore him, Melanoma gone, and worse. That's what I want for trump.

[sarcasmo]

4. Sell A to pay Z. Sell B to pay Y. Sell C to pay X.

[PA Democrat]

3. Yikes! They charge "high double and triple digit" effective annual interest rates.

Poor Donnie! Raising money was so much easier when all you had to do was to sell out America and international security to a war criminal in return for low interest rate.

[sarcasmo]

5. The DC hotel sale was classic Trump. Make 100 million, still owe Deutsche Bank 170 million.

[smirkymonkey]

7. This will not end well for anyone involved.