NYT: Deutsche Bank declined Trump Organization 2016 loan
During the 2016 presidential election, then-candidate Donald Trump was not granted a loan from Deutsche Bank following an extensive debate within the ranks of the bank, The New York Times reported on Saturday.
According to The Times’ report, three people familiar with Trump’s loan request said the decision ultimately came down to senior bank officials thinking that Trump’s bombastic candidacy made the loan too high of a risk for the bank to take on.
Two people familiar with the loan request told the paper that the Trump Organization’s request was made in order to get financing for work on a golf property in Turnberry, Scotland, by borrowing against the organization’s Miami property.
“This story is absolutely false,” Trump Organization spokeswoman, Amanda Miller told the New York Times.
“We bought Trump Turnberry without any financing and put tens of millions of dollars of our own money into the renovation, which began in 2014. At no time was any money needed to finance the purchase or the refurbishment of Trump Turnberry.”
The New York Times also reported that Troy Gravitt, a Deutsche Bank spokesman, declined comment.