All over the country, businesses large and small are seeking breathing room from their lenders, landlords and business partners as they face the financial fallout from the coronavirus crisis. President Trump’s family company is among those looking for help.
With some of its golf courses and hotels closed amid the economic lockdown, the Trump Organization has been exploring whether it can delay payments on some of its loans and other financial obligations, according to people familiar with the matter and documents reviewed by The New York Times.
Representatives of Mr. Trump’s company have recently spoken with Deutsche Bank, the president’s largest creditor, about the possibility of postponing payments on at least some of its loans from the bank. Deutsche Bank has been the subject of speculation that it has engaged in money laundering, particularly laundering Russian money. The only American bank that Trump does business with is Capital One.
The Trump Organization sought guidance last week from Palm Beach County about whether it expected the company to continue making monthly payments on county land that it leases for a 27-hole golf club. The Trump International Golf Club in West Palm Beach, Fla., is on nearly 300 acres that the Trump Organization leases from Palm Beach County.