LOUISVILLE, Ky. — The Metropolitan Business Development Corporation (METCO) Board recently approved $675,000 in low-interest small business loans, leveraging a $1,079,000 investment in Louisville.
The METCO board meets monthly to review, discuss and vote on applications for small business loans available through Louisville Metro Government. The city’s small business loan programs are administered by Louisville Forward.
The small businesses that obtained METCO loans:
- Hawkeye Motor Group LLC, a trucking company located at 4328 Cloverleaf Dr., was approved for a $50,000 Midi Loan. The Midi funds will be used to purchase a truck and cover all registrations and insurance expenses, in addition to some working capital.
- Trellis Brewing Company LLC, located at 1301 E. Washington St., was approved for a $250,000 Agribusiness Loan. The funds will be used to purchase and install equipment for the brewery. Trellis Brewing Company was also approved for a $200,000 Gap Loan. The loan will be used for working capital.
- Critical Mass LLC, a real estate holding company located at 840 E. Chestnut St., was approved for a $175,000 Go Green Loan. The funds will be used to make the building more energy efficient; improvements include insulation, HVAC, solar power, plumbing and appliances.
The monthly METCO board meetings take place monthly to evaluate, approve or deny loans. Meetings are currently being held virtually. The next application deadline is November 15, and the final 2022 METCO Board meeting is scheduled for December 8 at 9 a.m.
So far this year, the METCO Board has approved over $2.5 million in loans to 21 businesses, leveraging over $14 million in economic investment.
To learn more about the city’s small business loan programs, visit https://louisvilleky.gov/government/louisville-forward/local-loan-programs.
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