Black-owned banks band together to finance pro sports facility

American Banker
Thursday, December 10, 2020

A group of Black-owned banks will refinance a major construction loan for the Atlanta Hawks professional basketball team in a deal that organizers hope will spur more investment in Black-owned banks. Led by Carver State Bank in Savannah, Ga., the group of 11 banks will provide a $35 million syndicated loan to the Hawks for the refinancing of the Emory Sports Medicine Complex, the Hawks' three-year-old, 90,000-square-foot training and practice facility that also houses Emory Healthcare's sports medicine program and sports science and research division.