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Congress investigates loan abuse

September 12, 2005

The U.S. Congress will investigate abuses of a special low interest loan program formed after the September 11th attacks. Some companies in New York were turned down for the loans, but many businesses in other states, included one here in South Georgia, got the money.

Dr. Jeff Creamer at Baytree Animal Hospital in Valdosta received a 1.5 million dollar loan, and says his business suffered severely after the terrorist attacks. He says fewer people traveling meant less money for boarding pets and performing other services and it took him about 18 months to recover.

The loans came from the Small Business Administration. In all, 303 Georgia businesses won more than 108 million dollars in low-interest, low-cost government loans aimed at helping those impacted by the attacks.


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