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The Georges Berges Gallery is the SoHo art gallery representing Hunter Biden, the president’s son and an aspiring artist. The gallery has the exclusive right to market 15 of Mr. Biden’s art pieces, some of which have sold for between $75,000 and $500,000 each.
According to publically available records, the gallery has received large amounts of taxpayer assistance over the past year. It first received a $150,000 COVID “disaster assistance loan” from the SBA in 2020, which was later revised upward to a total of $500,000 in the summer of 2021.
And that’s not all the taxpayer funding the Georges Berges Gallery received. The New York Post reports that “ In addition to the COVID disaster assistance loans, the SoHo gallery received nearly $80,000 in two payments in April 2020 and February 2021 under the SBA’s Paycheck Protection Program, funds meant to help businesses keep up with paychecks to employees during the pandemic. ”
It’s unclear why the SBA approved such a high level of funding for the firm, which only has two employees. The New York Post additionally reported that “ While there is no evidence President Biden helped secure the additional $350,000 loan, a watchdog group found that of the more than 100 galleries in New York City’s 10th congressional district, which includes SoHo, TriBeCa and Chelsea, the Georges Berges Gallery received “by far” the largest SBA disaster loan windfall. ”
Although the amount of funding appears large and is outside the norm for New York art galleries, it’s more or less in line with loans recently granted by the SBA; the average SBA loan in 2020 was $567,599.
However, that hasn’t stopped watchdogs from asking questions about the series of loans.
One of the main areas of concern, as the Guardian reports , is that it wasn’t until tafter President Biden was sworn in that the loan amount was more than trebled, going from $150,000 to $500,000. Also, as the New York Post discovered , while SBA loans typically allow property to be used as collateral, the Georges Berges Gallery did not use any of its property as collateral for the SBA […]
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