De Niro-backed restaurants have taken out 14 coronavirus aid loans


A luxury restaurant chain co-founded by actor Robert De Niro has received up to $ 27.7 million through 14 Paycheck Protection Program (PPP) taxpayer-backed loans, according to Treasury Department data published Monday.

The Nobu group of luxury sushi restaurants and hotels was founded by De Niro, celebrity chef Nobuyuki “Nobu” Matsuhisa and film producer Meir Teper. Restaurants are located across the United States, with locations in California, New York, Florida, and Texas.

The loans, which are reported in size ranges, total at least $ 11 million and up to $ 27.7 million. The New York Business Development Corporation was listed in their records as the bank that processed the loans.

The $ 660 billion small business loan program was included in the $ 2 trillion coronavirus stimulus bill passed in March. Loans are repayable if the companies that receive them use the money to continue paying their employees.

The Trump administration published data on PPP loan recipients of at least $ 150,000 Monday. The release of the data comes as lawmakers push to oversee funds, which they say are not being distributed efficiently and fairly.

Lawmakers have expressed concern that wealthier companies are using funds in the PPP program after it was reported that big brands like Shake Shack and Potbelly were eligible while small businesses were unaware.

Other millionaire-owned businesses include Kanye westKanye Omari WestCaitlyn Jenner: My family “not involved” in gubernatorial candidacy Chris Rock, “SNL” cast reflects on “messed up” year in politics, pop culture in season finale Elon Musk asks Twitter for skit ideas ahead of “Saturday Night Live” ‘appearance MOREthe clothing company, Yeezy LLC, which received a loan worth between $ 2 million and $ 5 million from the PPP, according to data released on Monday.

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