MONTGOMERY, Ala. (AP) - After questions surfaced over how State Agriculture Commissioner Ron Sparks could suddenly give himself a half-million dollar campaign loan, Sparks responds.
Sparks says the $500,000 personal loan he reported to his Democratic campaign for governor was a bank loan that he personally guaranteed.
Sparks released a letter from River Bank & Trust in Montgomery on Friday confirming that it made him a loan. The bank said he met all requirements for the loan, including credit history and ability to repay.
Sparks' loan had generated questions because the annual financial statements he filed with the State Ethics Commission showed little income other than his state salary.
Other gubernatorial candidates who made loans to their campaigns filed financial statements showing significant income or assets.