LOUISVILLE, Ky. — The board of directors of the Metropolitan Business Development Corporation (METCO) recently approved $675,000 in low-interest small business loans, leveraging a $1,079,000 investment in Louisville.
The METCO Board of Directors meets monthly to review, discuss and vote on applications for small business loans available through the Louisville Metropolitan Government. The city’s small business loan programs are administered by Louisville Forward.
Small businesses that have obtained METCO loans:
- Hawkeye Motor Group LLC, a trucking company located at 4328 Cloverleaf Dr., has been approved for a $50,000 Midi Loan. The Midi funds will be used to purchase a truck and cover all registration and insurance costs, in addition to working capital.
- Trellis Brewing Company LLC, located at 1301 E. Washington St., has been 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., has been approved for a $175,000 Go Green loan. The funds will be used to make the building more energy efficient; upgrades include insulation, HVAC, solar, plumbing, and appliances.
Monthly meetings of the METCO Board of Directors are held monthly to review, 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, METCO’s Board of Directors has approved more than $2.5 million in loans to 21 companies, mobilizing more than $14 million in economic investments.
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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