Colony Bank submitted the lowest bid for a fixed interest rate for the $1.5 million line-of credit that was reviewed by the Dodge County Board of Commissioners at their meeting on Monday, February 6, 2017.
County commissioner chairman Dan McCranie opened bids from the Bank of Eastman, Citizens Bank and Colony Bank during the meeting. The Bank of Eastman submitted a bid of 2.8%; Citizens Bank a bid of 4.0% and Colony Bank a bid of 2.59%.
Board member Terry Niblett made the motion to accept the lowest bid of interest from Colony Bank, which was seconded by board member Brian Watkins. The motion passed unanimously. Board member Jr. Howell was not in attendance at the meeting.
Small Business Administration representative Burton Boone went before the Dodge County Board of Commissioners informing them that he would be in the area to assist businesses that were affected by the recent storm that hit adjoining Wilcox County. Boone told commissioner that low interest disaster loans were available to businesses of all sizes, private nonprofit organizations, homeowners and renters to repair or replace real estate, personal property, machinery and equipment, inventory and business assets that were damaged or destroyed during the storm.