Gov. Perdue Owes $21M Loan

Gov. Sonny Perdue is facing $21 million in personal debt after he took out a massive loan last year for his two agricultural businesses. The Atlanta Journal-Constitution reported that public records reveal the governor got the loan from AgGeorgia Farm Credit in Perry on collateral worth just 19 percent of the loan's value. The loan is due by March 1.

Because he is not running for office again, Perdue is not required to disclose the details of the loan. The loan is worth almost three times his personal assets of $6.1 million, which he disclosed in his latest statement of his finances in 2006.

Unlike the most three recent Georgia governors, Perdue did not place his financial interest in a blind trust while in office. The governor has said his Bonaire grain businesses - Houston Fertilizer & Grain Co. and AGrowStar LLC - would have suffered if he had put them in a blind trust.

(Associated Press)

Low-interest loans for storm victims

People in 42 counties hit by storms earlier this month now have access to low-interest loans. The U.S. Small Business Administration announced the loan after President George Bush designated the counties as federal disaster areas earlier this week. The storms pounded the state May 11th and 12th, killing three people.

GA tornado victims can get federal disaster loans

Georgians hit by March’s tornadoes will be eligible for millions in federal disaster assistance loans. The Small Business Administration says it’s already approved 125 home and business disaster loans for Georgia victims. Homeowners can get up to $200,000 in loans to repair or replace damaged real estate. Businesses of any size can borrow up to $1.5 million dollars.