According to a public summary document, theloan, from the federal government's Overseas Private InvestmentCorporation, is for "[u]p to $20.0 million," and is designed to"expand Winner Import Ukraine's automobile business, [and]construct and operate 'Winner Autocity,' which will have two new,state-of-the-art dealership facilities for Porsche and LandRover/Jaguar automobiles."
Porsche is a German-made luxury andsports car, and Jaguar Land Rover is a British luxury and sportscar company, owned by an Indian subsidiary.
Under "U.S. Economic Impact," thesummary document says, "This project will have a positivedevelopmental impact on the host country, Ukraine. The project willgenerate a significant number of new local jobs. Running adealership for premium automobile brands requires a highly trainedsales force, mechanics, accountants, communications and advertisingspecialists, IT specialists, service personnel, warehouse managers,and customer relations specialists."
Along with his family, Hynansky alsoowns car dealerships in Pennsylvania and in Biden's home state ofDelaware.
Since at least 1999, Hynansky and hisfamily have been regular donors to Biden's campaigns, and, later,Obama's. John Hynansky has donated $7,690 to a joint Biden's Senatecampaigns and failed presidential campaign; Michael Hynanskydonated $7,690; Alexandra Hynansky donated $7,280; Deanne Hynanskydonated $4,645; and Susan Hynansky donated $1,000 - coming to atotal family donation of $28,715.
During Obama's 2008 run for president,John Hynansky gave $30,800 to the Obama Victory Fund; AlexandraHynansky gave $2,550; and Deanne Hynansky gave $2,000 - totaling$35,350 to that campaign.
Understandably, in his speech during adiplomatic trip to Ukraine in 2009, Biden described John Hynanskyas "my very good friend, John Hynansky, a very prominentbusinessman from Delaware… I had breakfast with him the otherday."
Though the Overseas Private InvestmentCorporation report says that "the project is not expected to have anegative impact on the U.S.economy or employment," the revelationthat Biden's "very good friend" and donor, John Hynansky, receiveda taxpayer loan to open a business selling foreign luxury cars in aforeign country using foreign labor stands in stark contrast to theObama-Biden 2012 campaign. The latter charges the Mitt Romney-PaulRyan campaign stands for breaks for big business and shippingAmerican jobs overseas.
At the time of publication, the WhiteHouse had not returned requests for comment.