Yonkers OKd $650,000 in 'risky' business loans, inspector general says
Photo credit: Faye Murman | The City of Yonkers doled out more than $650,000 in "risky" loans to small businesses that slipped into default and did little to collect on the outstanding debts, according to an inspector general's report released Wednesday. (Jan. 23, 2013)
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The City of Yonkers doled out more than $650,000 in "risky" loans to small businesses that slipped into default and did little to collect on the outstanding debts, according to an inspector general's report released Wednesday.
In the report, Yonkers Inspector General Kitley Covill said that of 11 outstanding commercial loans given to local businesses by former Mayor Phil Amicone's administration,...
