Louisville City Wire

The Metropolitan Business Development Corporation (METCO) Board recently approved $530,000 in low-interest loans to five small businesses.

The METCO boards meets monthly to review, discuss and vote on applications for small business loans available through Louisville Metro Government. The city’s small business loan, or METCO, programs are administered by the Department of Economic Development.

The following small business was approved for METCO loans in April:

• Property holding company Aeon Properties LLC, located at 810-812 E. Broadway, was approved for a commercial renovation loan and a façade loan totaling $350,000. The façade loan will be used for exterior renovation, and the commercial renovation funds will be used to renovate interior of the third floor.

The following small businesses were approved for METCO loans in May:

• Childcare facility, Love and Devotion Childcare LLC, located at 7045 Raggard Road, was approved for a Midi loan of $20,000. The loan funds will be used for the purchase and installation of flooring for the facility.
• Property holding company Blue Anchor Holdings LLC was approved for a $100,000 façade loan to make improvements to the exterior of 1355 Bardstown Road.

The following small businesses were approved for METCO loans in June:

• Local ice manufacturer Kentucky Straight Ice LLC was approved for a Midi loan of $50,000. The loan funds will be used to purchase equipment, complete the buildout of a new freezer, and for working capital.
• A new donut shop, Sugar LLC, to be located at 2610 Portland Ave, was approved for a façade loan of $10,000. The loan funds will be used for the purchase and installation of new windows.

The METCO board meets the third Thursday of the month at 9 a.m. Meetings are currently being held virtually and can be accessed at the link below. The next three meetings for 2023 will be held on July 20, August 17 and September 21.

To learn more about the city’s METCO loan programs, visit https://louisvilleky.gov/government/economic-development/metco-loan-programs.

Original source can be found here.