“Jack Gilchrist, a businessman who stars in an ad (video below) for Republican presidential candidate Mitt Romney, claims in the ad: “My father’s hands didn’t build this company? My hands didn’t build this company? My son’s hands aren’t building this company?” However, what Gilchrist failed to mention is that he built his business, Gilchrist Metal, through government-sponsored loans, putting a dent in the attack on President Obama. The New Hampshire Union Leader recently reported Gilchrist took over $1 million in government loans since the 1980s, including $800,000 in tax-exempt bonds issued by the New Hampshire Business Finance Authority to build a new manufacturing plant and buy equipment. Gilchrist also admitted that he took a U.S. Small Business Administration loan of “somewhere south of” $500,000 in the 1980s, and said that to this day about 10 percent of his business comes from defense-related projects. None of these loans are mentioned by Gilchrist, in the ad.”
