“A Trump donor’s company got a 3 percent federal pandemic loan. It sells title loans at a 350 percent annual rate.”
-- Washington Post, 11/23/20

Friends --

The Main Street Lending Program, funded in part by the CARES Act, is an emergency stopgap designed to help mid-sized and small businesses, the backbone of the American economy, get through a once-in-a-century pandemic.

Predatory lenders -- like the Trump donor at the center of The Washington Post’s story -- are not the backbone of the American economy. But the Trump administration is letting them cash in on pandemic relief funds as if they are.

Take our one-question survey, and share your thoughts on the Trump administration’s giveaway to predatory lenders.

It’s simply outrageous that predatory lenders are getting taxpayer-backed loans at a low 3% interest when they are actively charging vulnerable communities rates as high as 350% -- worse, in the middle of a recession! If the Trump administration is going to allow predatory lenders to exploit limited pandemic aid, shouldn’t they have to pay back taxpayers at the same 350% rate?

-- Allied Progress