Deutsche Bank is one of the few financial institutions willing to lend money to Trump, but according to a New York Times report, they reached their limit in 2016.
Even Deutsche Bank — on of the final financial institutions willing to back Donald Trump — reportedly turned down the president when he needed a loan.
David Enrich, Jesse Drucker and Ben Protess report in the New York Times Saturday that while Trump was burning through cash in 2016 to self-finance his presidential campaign, he needed additional funds to keep his business growing. According to three unnamed sources familiar with the situation, Trump’s long-time financial backer took the rare move of turning him down:
A spokesperson for the Trump Organization called the report “absolutely false” and denied that the organization didn’t have thecash to finance the renovations at the Scottish resort.
