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Founder, CFP® Joel Ohman

UPDATED: Aug 23, 2012

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The former mayor of Huntsville, Alabama, Loretta Spencer is funding her campaign efforts with her own money through the use of personal loans.

According to the Madison County probate judge’s office, Spencer made a $50,000 personal loan to her campaign on August 10. She paid an additional $50,000 on the same day to an advertising company which produced her TV and radio campaign commercials. The commercial produced by Spencer claims that under her tenure as mayor from 1996 to 2008, Huntsville led the state in employment growth and creation.

Since entering the mayoral race in February, Spencer has raised $124,258. Of that amount, $105,000 came in the form of personal loans while $4,500 came from her family members. Additional contributors have donated a total of $14,758.

After accounting for the costs of advertising and various other election related expenses, Spencer claims to have $17,209 remaining in election funds to see her out through the remainder of the campaigning period.

In contrast to this, incumbent Mayor Tommy Battle last reported that he had $19,145 remaining in his campaign funds for the final push to win the election. This places his grand total campaigning funds at $345,861 since beginning his campaign for re-election in October of last year. Battle has raised more than $345,000, none of which was funded via personal loans.

As the election nears its end, prominent local organizations and city residents have taken their places on either side of the metaphorical battle lines.

Rallying to Spencer’s side are retired city schools Deputy Superintendent Mary Ruth Yates, Jerre Penney, who’s the President of Bill Penney Toyota, and Rebecca Pillsbury, the wife of retired Army Lt. Gen. James Pillsbury, according to Alabama Local News.

Showing vocal support for incumbent Mayor Battle are H-Vote, an organization linked to the Huntsville Education Association, the Boeing and Dynetics political action committees and the Bill Penney Motor Co.

It remains to be seen if Spencer—or even Battle—will take out personal loans in order to make a “last hurrah” in the closing days of the election.

The election date is scheduled for the 28th of August.