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Fulton County Puts Millions Of Federal Relief Dollars In Minority-Owned Banks


After years of planning, Loyal Trust Bank opened in Johns Creek in January of 2020. Just a few weeks later, the pandemic hit.
Chairwoman Rose Jarboe says things were slow as COVID-19 began to close things down. But then businesses started turning to Loyal Trust for PPP loans.
“Personally, I got calls that said ‘I banked with so-and-so bank for so many years, but they’re not taking my application, they’re not helping us,’” said Jarboe. “And I said ‘we’re here to help you.’”
Loyal Trust, which is Asian-owned, is one of two community banks that is receiving deposits from Fulton County. In all, the county is putting $10 million of its $206 million in American Rescue Plan funds into minority-owned banks with a presence in Fulton County. The move is meant to help more small businesses get access to cash. ....

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