The brand new Urban Organization Invention Agency (METCO) administers Louisville Area Government’s business and you can industrial possessions loans to have the newest and you can increasing companies within the Jefferson County. Finance can be used for begin-up-and extension will set you back, plus gizmos orders, buildout, and dealing capital, and for industrial property developments. Equity required for everyone METCO finance except the business Accelerator Loan.
Learn more: Install the METCO leaflets lower than. Getting questions, questions or even request good pre-software fulfilling, email address [email address protected] or name (502) 574-4140.
New METCO board match on third Thursday of the week from the nine an excellent.m. Meetings are currently are stored very nearly. The rest meeting for 2022 will be held into September fifteen, October 20, and you may December 8 payday loans Jackson LA.
Organization Accelerator Financing – Having small businesses from inside the reasonable so you can reasonable earnings areas in the place of availability to equity otherwise industrial lending. Getting organizations unlock below one year, fund is $15,one hundred thousand – $29,100000. People unlock over 12 months may apply for doing $fifty,000. Money try repayable more than seven ages during the mortgage loan regarding 8%. Zero equity expected.
Endeavor Gap Money Money – Brings opportunity gap financial support all the way to 25% out-of opportunity funds, or to fifty% getting fraction-owned or girl-possessed companies. Debtor need to sometimes has a first bank set up, or have been rejected of the a professional bank. Eligible expenses include: gadgets, make away, furnishings/fixtures, offers, index, and dealing funding. The brand new build isn’t qualified. Pit money is almost certainly not used in to order houses otherwise belongings apart from downpayment advice into commercial assets. Financing try $twenty-five,100 – $2 hundred,100000, at least interest of five%, repayable more a decade.
Facade Loan – Will bring financial support to own additional possessions developments so you can rejuvenate community industrial corridors. Qualified expenditures include storefronts, masonry repair, doorway and you can window substitutes, exterior, color, woodwork, signage, and landscape. (Roofs and you will sidewalks aren’t eligible.) Finance is $15,100 – $a hundred,100000, from the mortgage loan out-of step three%, repayable more a decade.
Usage of Mortgage – Provides funding to switch strengthening entry to and you may ADA-compliance. Eligible expenditures is interior and you can outside accessibility developments. Funds is actually $5,000 – $15,100000 at the an interest rate off step three%, repayable over cuatro decades.
Commercial Renovation Mortgage – Will bring money to your recovery of a professional possessions that is otherwise the wrong to the process regarding a business, and for industrial lease. Financing is actually $15,100 – $250,100 or maybe more, during the mortgage loan regarding step three%, repayable over 10 years.
Go green Loan – Will bring capital to own energy efficiency updates otherwise organizations carrying out green things otherwise properties. Finance was $15,100 – $2 hundred,000 or even more, at the very least rate of interest regarding step three%, repayable over a decade.
Louisville Agribusiness Financing – Provides money in order to firms that techniques, spread, otherwise add worthy of so you can dining mature from the Kentucky growers. Loans was $15,one hundred thousand – $250,000 at least interest rate off 2.75%, repayable more than 10 years.
Local loan applications
Brownfield Clean Loan – Will bring investment in order to possible and existing property owners towards environment tidy up can cost you out of eligible brownfields so that the assets is returned in order to active have fun with.
State-paid applications
The latest Kentucky Security Help System (KYCSP) (the latest “Program”) will bring a sworn house (cash collateral membership) to help you an enlisted financial all the way to twenty % (20%) of the financing so you can help the guarantee exposure out-of a company debtor that is if not accredited however, not able to meet up with the lender’s safety standards. The bucks equity membership is then pledged because security into the account of your own borrower towards the a deal from the purchase foundation and you can found at the brand new playing lending institution otherwise from the most other designated covered depository standard bank in the term of your own Kentucky Economic Creativity Money Power (brand new Power)
Kentucky small businesses can get qualify for a non-refundable income tax borrowing of up to $25,000 on the state tax come back from Kentucky Brief Team Tax Credit (KSBTC) system. The applying can be acquired to most to have-finances organizations that have fifty otherwise fewer complete-day personnel.