Tiny Red HandsBack

Bank of Internet made $30 million and $57 million Kushner loans

Date
2018-04-30
Entry type
real-estate-financing
Current status
Loans reported; terms not fully public

The lender provided a $30 million Bushwick loan or refinancing and a separate $57 million New Jersey development loan; underwriting terms remain private.

Entities and roles

Relationships in this file

  1. Bank of Internet USAmade or refinanced two reported real-estate loansKushner Companies
  2. Donald J. Trumpson-in-law and former Kushner Companies chief executiveJared Kushner

Money trail

  1. investmentBushwick project financing$30,000,000
    Reported investor / source
    Bank of Internet USA
    Reported investment recipient
    Kushner Companies Bushwick project
    reported · 2018-04-30 · observedPopulation Bank of Internet financing on the Bushwick projectPeriod 2017-01-01 to 2018-04-30Basis Use the project-level principal reported by ProPublica.Limits One of two separately reported financings; principal is debt, not income.Open cited evidence
  2. investmentNew Jersey project loan$57,000,000
    Reported investor / source
    Bank of Internet USA
    Reported investment recipient
    Kushner Companies New Jersey project
    reported · 2018-04-30 · observedPopulation Bank of Internet loan on a Kushner Companies New Jersey developmentPeriod 2017-01-01 to 2018-04-30Basis Use the project-level principal reported by ProPublica.Limits One of two separately reported financings; principal is debt, not income.Open cited evidence

Claims and evidence

  1. factreported

    ProPublica reported that Bank of Internet provided or refinanced $30 million in debt on Kushner Companies' Bushwick project and made a $57 million loan on a New Jersey development; the bank said the transactions underwent ordinary underwriting, and the reporting did not establish that Jared Kushner or the Trump administration influenced the loans.