AP FACT CHECK: Trump on the loan that launched his business
WASHINGTON (AP) — A claim from the presidential debate and how it stacks up with the facts:
TRUMP: “My father gave me a small loan in 1975...”
THE FACTS: Trump got a whole lot more than a small loan. Aside from a $1 million financing from his father, Trump received loan guarantees, bailouts and a drawdown from his future inheritance. Reporter Tim O’Brien noted in a 2005 book that Trump not only drew an additional $10 million from his future inheritance during hard times, but also inherited a share of his father’s real estate holdings, which were worth hundreds of millions when they were eventually sold off.