FBI asking about loan to minority business group

CHATTANOOGA, Tenn. (AP) -- The FBI has joined in asking questions about a $579,000 loan made to a minority business group in Chattanooga.

Representatives of the Tennessee Multicultural Chamber of Commerce met with Chattanooga City Council members Tuesday night to discuss the community group's finances.

City Council members have cut off a $75,000 annual allocation they were providing to the multicultural chamber.

Chattanooga Community Development Financial Institution president David Johnson said he received a call Tuesday from the FBI about an October 2009 loan.

The Chattanooga Times Free Press reports that multicultural chamber director Sherrie Gilchrist told City Council members Tuesday night that 50 percent of the chamber's money has been cut because they have received no city or Hamilton County funding, and that's why the chamber stopped making payments on the loan.

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(Copyright 2011 by The Associated Press. All Rights Reserved.)


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