LOANS

Below Market Loan Funds Provided by State to Banks for Tornado Property Losses

Loan decisions are made by the banks involved.

The Alabama Treasurer’s Office says people in these counties who suffered property losses from the tornadoes on March 3rd may be eligible to borrow money from $50-Million in “below market” deposits made by the state. Loan approval decisions are made by the banks involved. Counties: Autauga, Barbour, Bullock, Butler, Crenshaw, Geneva, Henry, Lee, Macon, and Washington counties. Check with your…

Bentley Forms Task Force Focused on Predatory Lending

Alabama Gov. Robert Bentley is creating a task force responsible for identifying potential legislation that could help protect consumers from predatory lending. Bentley said in a statement Tuesday that he signed an executive order creating the Alabama Consumer Protection Task Force. The governor says predatory lending is one of the biggest problems Alabama consumers face during financial emergencies. The formation…

Senate Vote on Payday Loans Delayed

The Alabama Senate has delayed a vote on a Colorado-style payday loan reform that would give people at least six months to pay back the loan instead of just a few weeks. Senators on Thursday postponed a vote after the bill hit opposition on the Senate floor. Republican Sen. Arthur Orr, the bill’s sponsor, said borrowers currently face oppressive fees…

Loans Available for Victims of December Flooding

Bentley says loans are available through the Federal Small Business Administration for victims of the flooding event in December

MONTGOMERY, Ala. (AP) – Alabama Gov. Robert Bentley says loans administered through the federal Small Business Administration are available to help victims of late December storms repair damage to their property. Bentley said in a statement Friday that low-interest loan assistance has been approved for more than 20 counties — including Jefferson, Montgomery and Tuscaloosa — based on damage assessments…