ATI works out bank deal for businesses - WALB.com, Albany News, Weather, Sports

ATI works out bank deal for businesses

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October 10, 2007

Albany - Banks will partner with business owners interested in opening up shop downtown, or in making improvements to current businesses. Albany Tomorrow worked out a partnership with Albany banks to offer loans at half a percentage point lower than they were originally approved for.

At least three banks, including Security Bank have already agreed to participate. "Our view is that this would be a good community service," said Mark Lane of Security Bank.  "I think that's where the discounted pricing came from, because anyway we can entice businesses to come downtown and hopefully thrive, then that's good for other businesses which is in turn, good for banks."

Businesses must fall within the master plan of downtown in order to qualify for the low-interest loan. ATI will submit the loan package to all banks within Albany and Lee county and encourage them to participate.

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