The fresh new Urban Company Invention Firm (METCO) administers Louisville City Government’s business and you may commercial assets funds to own the and you will growing organizations during the Jefferson Condition. Money can be used for begin-up-and extension can cost you, together with products orders, buildout, and working capital, as well as for commercial possessions advancements. Equity needs for everyone METCO money except the organization Accelerator Loan.
Find out more: Down load the METCO leaflets below. Getting issues, inquiries or even demand a good pre-app meeting, current email address [email address protected] or label (502) 574-4140.
The METCO panel meets towards the 3rd Thursday of your times on 9 a good.m. Conferences are presently being kept about. The remaining conference to possess 2022 would be stored into September 15, Oct 20, and you can December 8.
Business Accelerator Loan – Having small enterprises from inside the low in order to modest earnings areas as opposed to access to security or commercial credit. To own organizations discover below 1 year, finance was $15,000 — $30,one hundred thousand. Companies unlock more than one year can get get to $50,one hundred thousand. Finance is repayable more than eight age during the an interest rate out-of 8%. Zero equity needed.
Project Pit Resource Money – Provides venture pit financing as much as twenty-five% off investment budget, otherwise to fifty% to have fraction-had or lady-had people. Debtor must often provides a primary lender positioned, otherwise was declined of the a commercial financial. Eligible expenditures are: gadgets, generate out, furnishings/accessories, offers, collection, and dealing money. The newest structure isn’t eligible. Pit money is almost certainly not used in to order houses or property apart from down-payment advice towards commercial possessions. Fund try $twenty-five,100 — $2 hundred,one hundred thousand, at a minimum interest rate of five%, repayable more a decade.
Facade Mortgage – Provides funding to possess outside possessions advancements in order to revitalize neighborhood industrial corridors. Eligible expenditures is storefronts, masonry fix, door and you can window replacements, exterior, paint, carpentry, signage, and you can landscaping. (Roofs and you may pathways commonly eligible.) Finance is $fifteen,100 — $a hundred,000, in the mortgage out of step three%, repayable over a decade.
Accessibility Financing – Brings investment to switch building entry to and ADA-conformity. Qualified costs tend to be indoor and additional the means to access advancements. Funds was $5,100000 — $15,100 at mortgage loan regarding step three%, repayable over 4 decades.
Commercial Repair Mortgage – Will bring financing to the restoration from a professional possessions that’s if you don’t the wrong into operation from a business, or industrial book. Financing is actually $15,000 — $250,100 or higher, at an interest rate out of step three%, repayable over ten years.
Go green Mortgage – Will bring money to own energy efficiency enhancements otherwise enterprises carrying out environmentally friendly activities otherwise features. Finance are $15,one hundred thousand — $two hundred,one hundred thousand or even more, at the very least interest from step 3%, repayable more a decade.
Louisville Agribusiness Mortgage – Brings financial support so you can firms that techniques, spread, or otherwise put really worth in order to food person because of the Kentucky farmers. Fund was $fifteen,100 — $250,100000 at a minimum interest out of 2.75%, repayable more ten years.
Local mortgage applications
Brownfield Cleanup Financing – Brings resource to help you possible and you will established home owners on the environmental cleaning will cost you away from eligible brownfields therefore the property are came back to help you productive play with.
State-backed programs
Brand new Kentucky Security Assistance System (KYCSP) (brand new “Program”) brings a sworn house (dollars guarantee membership) in order to an enrolled financial as much as twenty per cent (20%) of their mortgage in order to increase the collateral exposure out of a company debtor that is if not licensed however, unable to meet with the lender’s shelter requirements. The bucks equity membership will then be sworn given that equity for the account of one’s debtor to the a deal because of the purchase base and found at the brand new acting lending institution otherwise on other appointed insured depository lender on the label of your own Kentucky Financial Creativity Loans Authority (the latest Authority)
Kentucky small enterprises can get qualify for a low-refundable income tax borrowing as much as $twenty-five,000 on the condition tax come back through the Kentucky Short Business Taxation Borrowing (KSBTC) system. The application is present to the majority of to own-profit companies having 50 otherwise fewer complete-date group.
