The city has awarded loans totaling nearly $168,000 to nine small businesses to help them renovate or expand. The loans have been awarded by Louisville Forward Economic Development’s Metropolitan Business Development Corporation (METCO) and the Department of Community Services’ Microbusiness Development Program.
METCO loans have been awarded to the following businesses:
Microbusiness loans have been awarded to the following businesses:
The Metropolitan Business Development Corporation (METCO) governs metro government’s small business loans, which include facade, accessibility and gap financing loans. Because metro government is not the primary lender, the loan program allows many public-private partnerships between government and private business ventures that further the vitality and quality of life in the Louisville community.
The METCO board meets the fourth Thursday of each month. Meetings are held at 9:00 a.m. at the offices of Louisville Forward, located at 444 S. 5th Street, Suite 600. Meetings for 2017 are scheduled for January 26, February 23, March 23, April 27, May 25, June 29, July 27, August 24, September 28, October 26 and December 14.
To learn more about the METCO loan program, visit https://louisvilleky.gov/government/louisville-forward/local-loan-programs
Louisville Metro’s Microbusiness Development Program helps low and moderate income business owners with starting and growing small businesses. A microbusiness employs five or fewer people, including the owner. The program includes training, technical assistance and an opportunity to apply for a loan.
Many microbusinesses have little or no access to the commercial banking sector, and this loan program helps businesses owners who need capital. Loans range from $500 to $15,000. Borrowers have a choice of two programs, one for businesses which have been open for at least one year, and the one for start-up businesses.
For more information about Community Services’ microbusiness program, visit https://louisvilleky.gov/government/community-services/microbusiness-program.