This new Urban Business Invention Company (METCO) administers Louisville City Government’s small business and you may commercial assets finance to own the latest and you will expanding enterprises in the Jefferson Condition. Fund are used for begin-up-and extension can cost you, and devices requests, buildout, and working money, and for commercial possessions improvements. Collateral required for everyone METCO loans except the business Accelerator Mortgage.
Find out more: Down load all of our METCO leaflets less than. For questions, inquiries or even to demand a good pre-software meeting, email address [current email address safe] or telephone call (502) 574-4140.
The brand new METCO board suits for the 3rd Thursday of the times from the nine an excellent.yards. Meetings are getting kept very nearly. The remainder conference to possess 2022 could be held on September fifteen, Oct 20, and you can December 8.
Providers Accelerator Mortgage – Having smaller businesses in reasonable so you can moderate income communities rather than availability so you can collateral otherwise commercial financing. Having businesses open below 12 months, money is actually $15,one hundred thousand – $30,000. Businesses unlock more 12 months could possibly get apply for around $50,000. Finance are repayable more eight decades in the mortgage off 8%. Zero collateral expected.
Opportunity Gap Investment Fund – Provides project pit investment all the way to twenty five% away from enterprise funds, otherwise up to fifty% to own minority-had or lady-owned organizations. Borrower have to possibly enjoys a first bank positioned, otherwise was refuted of the a professional bank. Qualified expenses include: products, generate away, furnishings/accessories, provides, index, and working financing. The fresh new framework isn’t eligible. Pit fund may not be useful to order structures otherwise belongings except for advance payment direction for the industrial property. Finance are $twenty-five,100000 – $2 hundred,one hundred thousand, at the very least interest rate of 5%, repayable more than ten years.
Facade Loan – Will bring capital having external assets improvements so you can refresh area commercial corridors. Qualified costs are storefronts, masonry resolve, home and you can screen replacements, siding, decorate, carpentry, signage, and surroundings. (Roofs and you may pathways aren’t qualified.) Finance is actually $fifteen,100 – $100,000, during the an interest rate away from step three%, repayable over ten years.
Entry to Loan – Brings financial support adjust strengthening the means to access and ADA-conformity. Eligible costs include interior and you can outside use of developments. Loans is actually $5,000 – $fifteen,one hundred thousand on an interest rate out-of 3%, repayable over cuatro decades.
Industrial Renovation Financing – Brings financial support on recovery of a professional possessions that is otherwise unsuitable toward process off a business, and industrial rent. Finance was $15,100 – $250,000 or www.paydayloansindiana.org/cities/salem/ higher, during the an interest rate away from step 3%, repayable over a decade.
Go green Loan – Will bring money getting energy savings enhancements or organizations creating environmentally friendly issues otherwise features. Funds is actually $15,100 – $two hundred,100 or maybe more, at a minimum interest rate out-of step 3%, repayable more than a decade.
Louisville Agribusiness Loan – Brings resource so you can businesses that techniques, distributed, otherwise include well worth to food adult from the Kentucky farmers. Funds is actually $15,100 – $250,000 at least rate of interest from dos.75%, repayable more a decade.
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Brownfield Clean Loan – Will bring money in order to prospective and established property owners toward environment cleaning costs from qualified brownfields and so the possessions can be came back to energetic play with.
The Kentucky Security Service System (KYCSP) (this new “Program”) will bring a bound house (dollars security account) in order to an enrolled bank as high as twenty per cent (20%) of their financing to help you help the equity visibility regarding a small business debtor that’s if not accredited however, incapable of meet the lender’s safeguards requirements. The money guarantee membership will then be pledged because the guarantee towards the account of your borrower with the an exchange by purchase base and you can found at the fresh new using lending institution or on other appointed covered depository lender about name of your own Kentucky Monetary Advancement Loans Authority (this new Expert)
Kentucky small businesses may be eligible for a low-refundable income tax credit as high as $twenty-five,100 on their county taxation go back from the Kentucky Short Company Tax Borrowing (KSBTC) system. The applying is obtainable to the majority having-earnings enterprises having 50 otherwise less complete-time teams.