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Augusta committee to look at forgotten loan program

Latest from The Augusta Chronicle - Mon, 06/13/2016 - 10:46pm

Bank and city officials might have forgotten Augusta’s Minority Link Deposit program, but Augusta Commission member Marion Williams has not.

The program saw millions of dollars deposited into two area banks – now State Bank and Trust and Georgia Bank and Trust – at lower interest rates, as an incentive for them to loan money to small and minority-owned businesses.

Fifteen years later, the funds sit largely untouched, and city and bank officials say they’re unfamiliar with the program.

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