The Metropolitan Business Creativity Enterprise (METCO) administers Louisville Town Government’s small business and you can commercial property loans to own brand new and you can increasing organizations within the Jefferson County. Financing can be used for begin-up and expansion costs, in addition to devices instructions, buildout, and working money, as well as commercial property improvements. Equity required for all METCO financing except the organization Accelerator Mortgage.
Find out more: Down load our very own METCO leaflets less than. To own questions, inquiries or perhaps to request a good pre-application conference, email address [email safe] otherwise name (502) 574-4140.
The fresh new METCO board suits on third Thursday of your own few days during the nine a great.m. Group meetings are currently being kept almost. The remaining appointment for 2022 would be kept on September fifteen, October 20, and you will December 8.
Team Accelerator Mortgage – Getting small enterprises from inside the reasonable in order to modest earnings neighborhoods in the place of accessibility in order to collateral otherwise industrial credit. Getting companies unlock lower than one year, fund try $fifteen,one hundred thousand – $29,100000. Organizations open over 12 months get make an application for doing $50,000. Loans is actually repayable more than seven many years during the an interest rate out of 8%. No equity required.
Endeavor Pit Financial support Fund – Brings venture pit resource as high as 25% from enterprise finances, otherwise as much as 50% getting minority-possessed or woman-possessed companies. Debtor need sometimes has a primary lender in position, or have been rejected because of the a commercial bank. Qualified expenditures include: products, create away, furnishings/fixtures, offers, index, and dealing investment. The brand new structure isn’t eligible. Gap fund is almost certainly not useful to acquire property or house apart from down-payment assistance on the commercial assets. Funds is actually $twenty-five,000 – $two hundred,100, at the very least interest rate of five%, repayable over a decade.
Facade Mortgage – Will bring financing to have outside possessions improvements so you can rejuvenate neighborhood commercial corridors. Qualified expenses become storefronts, masonry fix, home and you may window substitutes, exterior, paint, woodwork, signage, and landscape. (Roofs and you will pathways aren’t qualified.) Fund is actually $15,one hundred thousand – $100,one hundred thousand, at the mortgage regarding step three%, repayable more than ten years.
Entry to Loan – Provides money to improve strengthening entry to and you may ADA-conformity. Qualified expenditures tend to be interior and you will additional access to developments. Fund are $5,one hundred thousand – $15,100000 within mortgage away from step 3%, repayable over cuatro ages.
Industrial Recovery Financing – Provides capital on the recovery of a commercial property that is if you don’t not the right to the procedure out of a corporate, and for industrial rent. Loans try $fifteen,100000 – $250,100 or maybe more, at an interest rate from step 3%, repayable over 10 years.
Go green Financing – Will bring resource for energy savings enhancements or people undertaking eco-friendly products or functions. Financing was $15,000 – $two hundred,000 or even more, at a minimum interest out-of step 3%, repayable over ten years.
Louisville Agribusiness Financing – Brings capital to companies that procedure, spread, if not incorporate well worth so you’re able to restaurants person by Kentucky growers. Financing is actually $fifteen,one hundred thousand – $250,000 at a minimum rate of interest regarding dos.75%, repayable more than a decade.
Local loan apps
Brownfield Cleanup Mortgage – Brings funding to prospective and you may existing home owners into environmental clean up can cost you off eligible brownfields so that the possessions tends to be came back to help you productive have fun with.
State-sponsored apps
The latest Kentucky Collateral Service Program (KYCSP) (this new “Program”) provides a sworn advantage (bucks security account) to a signed up financial of up to twenty per cent (20%) of its loan so you can improve the guarantee coverage regarding a company debtor which is if you don’t certified however, not able to meet the lender’s cover criteria. The cash guarantee membership is then bound since guarantee into the part of debtor towards the a purchase of the exchange base and located at the newest acting lending institution or on most other appointed insured depository standard bank about name of the Kentucky Economic Creativity Funds Authority (the new Authority)
Kentucky small enterprises get qualify for a low-refundable taxation borrowing from the bank as much as $25,100000 on the county income tax get back through the Kentucky Short Company Taxation Credit (KSBTC) program. The program is obtainable to most having-finances organizations with fifty or less full-date personnel.
