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Since March 2018, nine businesses have been approved for loans totaling nearly $1 million by the Louisville Metro Departments of Economic Development and Resilience and Community Services. The loans will leverage a total investment of more than $9 million and will assist the businesses to open, expand services or rehabilitate properties.

METCO business loans, administered through Department of Economic Development, have been awarded to the following businesses:

  • $600,000 Go Green loan has been approved for Steve Smith on behalf of Two Stone Inc., the holding company for Stoneware & Co., for properties located at 711 and 731 Brent Street in the Paristown neighborhood. The loan will allow Smith to go green by replacing the current HVAC units and windows with new energy efficient systems and windows. This project is part of the $28 million Paristown development that will feature a total renovation and expansion of iconic Louisville Stoneware & Co., which traces its roots back to 1815. The project also will be home to a new $12 million satellite location of The Kentucky Center for the Arts, which will be the anchor for the neighborhood development.
  • $108,270 façade loan has been approved for MMCS Properties, LLC for the property located at 1003 Logan Street. The loan will allow the owners Mike and Medora Safai to install windows, cedar siding and specialty barn doors to the exterior of the existing warehouse in the Shelby Park neighborhood. Once complete, the warehouse will be transformed into a public market featuring locally-grown vegetables, fruits and dairy, a micro-brewery, and event space.
  • $184,000 gap loan and $16,000 accessibility loan were approved for LOP Properties, the property holding company for the facilities leased and inhabited by the Ladies of Promise, for its buildings at 2131 – 2133 W. Market Street in the Russell neighborhood. The gap loan will allow business partners Kristie Eliason and Aileen Wales to renovate the building, and will supply working capital as the Ladies of Promise convert their organization to a Behavioral Health Service Organization (BHSO). The accessibility loan will allow them to bring the building into ADA compliance. Currently, the Ladies of Promise has capacity for fifty women in a safe, clean and sober environment including sleeping, food, clothes storage and shower capacity. Once the renovations and conversion to a BHSO are complete, the facility will add a variety of medical services and will serve food, which they currently do not do.
  • $30,000 business loan has been approved for BBHPS, LLC dba Flavour, a restaurant which will operate at 1767 Bardstown Road in the heart of the Highlands neighborhood. The loan will allow the partner group (Doug Bibby, Eliott Horne, Clarence Benboe and William Pennington) to finance upfront costs of new signage, purchase additional equipment and electronics and supply working capital for the first three months. The restaurant opened in May and features ethnic cuisines and cocktails in an upscale setting.
  • In addition, the METCO Board approved amending the Business Accelerator Loan which is available for small business owners in the nine neighborhoods of west Louisville (Algonquin, California, Chickasaw, Park DuValle, Park Hill, Parkland, Portland, Russell, Shawnee). Changes include:
    • Extending the repayment period to seven years instead of five years
    • Lowering the interest rate to 8% from 12%
    • Adding six hours of requisite training to be completed through courses offered through Louisville Free Public Library’s Lynda.com

Microbusiness Development Program loans, administered through the Office of Resilience and Community Services, have been awarded to the following businesses:

  • $5,000 loan to Baskets & More, located in downtown at 609 W. Main Street, to assist owner Kimberly Starks with rent, insurance and supplies.
  • $7,500 loan to Manslick Learning Academy, LLC to assist owner Aquanette Knox with equipment, supplies, rent and insurance. Knox is a certified Child Development Associate who located her business at 4441 Manslick Road.
  • $15,000 loan to People Power Personal Training, LLC to assist owner Angela Carter-Lanon with rent, insurance and supplies. Located at 909 Barret Avenue, People Power Personal Training offers individual and group wellness and health training. Carter-Lanon is a National Board Certified Health and Wellness Coach who has a Master’s of Science Degree in Exercise Physiology and a Bachelor’s of Science Degree in Exercise Science and Sports Medicine, both from the University of Louisville.
  • $15,000 loan to The Kentucky TACO Company to assist owners Carl Steve Higdon and Charles Leon Neal with rent, business insurance and inventory supplies. This expansion will include delivery and store front service. They will be located at 502 Warnock Street.
  • $15,000 loan to Tristaca Loves Cooking, LLC to assist owner Tristaca Brown with new equipment, insurance and food supplies. The loan will assist Brown in catering as well as working to expand the food truck business.

Photo: Louisville Forward

Four businesses were approved for loans totaling $291,000 by the Louisville Metro Departments of Economic Development and Resilience and Community Services. The loans will leverage a total investment of more than $1.2 million and will assist the businesses to open, expand services or rehabilitate properties.

METCO small business loans have been awarded to the following businesses:

• $190,000 Go Green loan has been approved for Nicholas Ellis on behalf of CFG Holdings for its property located at 1202 S. 3rd Street in Old Louisville. The loan will allow owner Nicholas Ellis to increase energy efficiency by replacing the HVAC unit, installing additional insulation and improving the electrical system. After improvements are made, the annual energy cost savings is estimated to be nearly $4,000. The owner plans to reopen the building as mixed-use with commercial tenants on the first and second floors and residential apartments on the third floor.

• $86,000 façade loan has been approved for Refuge Community Development, Inc. for its property located at 1716 Prentice Street in the California neighborhood. The loan will allow owners to rehabilitate the building and return it to its original use as a worship facility, which will be rented out to Refuge in Kentucky Church.

Microbusiness Development Program loans have been awarded to the following businesses:

• $10,000 loan to Flo’s House of Soul, LLC to assist owner Jason Alexander Hatcher with rent, insurance and supplies. Flo’s House of Soul is a sandwich shop and ice cream parlor located at 3400 W. Muhammad Ali Blvd. where customers can purchase fun food favorites at a family-friendly venue.

• $5,000 loan to Sherrell Anderson dba DN Surprise Florist and Gifts to assist owner Sherrell Anderson with insurance, rent and inventory. DN Surprise Florist, located at 2001 W. Broadway, provides services such as floral, wreath, bouquet, vase and centerpiece design. Online FTD delivery services and in-store purchases also are available.

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 at 9:00 a.m., at the offices of Louisville Forward, located at 444 S. 5th Street, 6th floor. Remaining meetings for 2018 are scheduled for February 22, March 22, April 26, May 24, June 28, July 26, August 23, September 27, October 25 and December 13.

To learn more about the METCO loan program, visit
https://dev.louisvilleky.gov/government/louisville-forward/local-loan-programs

The 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, which can range from $5,000 to $15,000.

Many microbusinesses have little or no access to the commercial banking sector, and this loan program helps business owners who need capital. Borrowers have a choice of two programs, one for businesses which have been open for at least one year, and one for start-up businesses.

For more information about the Microbusiness Development Program, visit the Small Business Clinic at the Nia Center, 2900 W. Broadway, or visit https://louisvilleky.gov/government/resilience-and-community-services/microbusiness-program

In an effort to address the needs of Louisville residents with disabilities and improve accessibility in many historic commercial structures in Metro Council District 8, Councilman Brandon Coan today announced that his office has partnered with the Department of Economic Development to create a dedicated revolving account that will loan up to $5,000 to businesses located in the district, already seeking the city’s accessibility loan program, to help pay for bigger and more accessibility improvements.
“The District 8 Accessibility Loan Program is part of my strategic objective to improve equitable access to the built environment,” said Coan.  “Many Highlands-area businesses are hard to navigate for people using wheelchairs or otherwise having limited mobility.  I hope local businesses will take advantage of this opportunity to improve their properties, expand their customer bases and make District 8 an even more welcoming community.”
To be eligible for the loan, the business must be located in District 8, be approved by the Metropolitan Business Development Corporation (METCO), the city’s board that governs small business loans, and be used on a project already borrowing $15,000 from METCO. The loan will be matched up to $5,000.
The city’s accessibility loans are offered to commercial property owners for the purpose of making buildings more accessible to people with disabilities. The loans are restricted to ingress and egress improvements, including but not limited to: accessible paths of travel, doors, handrails, threshold adjustments, and restroom updates.
“The Accessibility program is an important tool for improving the accessibility for everyone in our community, and District 8, anchored by many historic buildings, is ripe for these improvements,” said Scott Herrmann, Director of Economic Development. “Councilman Coan’s partnership with METCO is a testament to the city’s commitment to improving accessibility and furthering the vitality and quality of life in the Louisville community.”

The Center for Accessible Living has agreed to provide pro bono Accessibility Surveys to applicants seeking to take advantage of the new loan program.  The surveys identify ADA compliance issues and make compliance suggestions – the kinds of improvements intended to be funded by the loans.
“As a compassionate city, Louisville should strive to be accessible to all people, and the District 8 Accessibility Loan Program is a positive development toward that goal,” said David Allgood, Director of Advocacy at the Center for Accessible Living. “The Center for Accessible Living is proud to partner with Councilman Coan on this initiative. People with disabilities are the city’s second-largest minority, and we have money to spend at local businesses we can access and enjoy.”

July 26, 2017 is the 27th Anniversary of the Americans with Disabilities Act, which was signed into law in 1990 by President George H. W. Bush. The law prohibits discrimination based on disability and improves access to the built environment through standards and requirements.

To learn more about the city’s accessibility loan, visit https://louisvilleky.gov/government/louisville-forward/local-loan-programs.

MayorGregFischerOfficialThree businesses were approved for loans totaling  $410,000 by the Department of Economic Development’s Metropolitan Business Development Corporation (METCO) and the Department of Community Services’ Microbusiness Development Program. The loans will leverage a total investment of $3.4 million and will assist the companies to open, to expand services or to revitalize properties.

METCO loans have been awarded to the following businesses:

  • Three loans were approved for Butcherblock Properties, LLC for properties located at 115-117 N. Wenzel Street, 1004 E. Washington Street and 1007 E. Main Street in the Butchertown neighborhood. The loans will allow owner, Andy Blieden, to improve the façades of the buildings and to make accessibility improvements.
    • $65,000 façade loan (115-117 N. Wenzel Street)
    • $65,000 façade loan (1004 E. Washington Street)
    • $65,000 façade loan (1007 E. Main Street)
  • $200,000 business loan has been approved for Gravely Brewing, LLC for its property located at 514 Baxter Avenue. The loan will allow owners, Nathaniel and Holly Gravely and Cory and Kelly Buenning, to purchase equipment and prepare the building for commercial reuse as a brewery/music venue/taphouse.

A microbusiness loan has been awarded to the following business:

  • $15,000 loan to The CERA Group, LLC to assist the owners, Jamie Keith and Mary Jefferson, with rental space, office equipment and marketing efforts. Located at 332 W. Broadway, The CERA Group provides consulting expertise to non-profit organizations, businesses and individuals to develop ideas and concepts that impact education and the greater good.

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 at 9:00 a.m., at the offices of Louisville Forward, located at 444 S. 5th Street, 6th floor. Remaining meetings for 2017 are scheduled for 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.

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