METCO Board Approves Over $900,000 In Small Business Loans

Louisville KY

19 March, 2022

4:31 AM

Description

Press release from the City of Louisville: March 17, 2022 The Metropolitan Business Development Corporation (METCO) Board has approved $918,500 in low-interest small business loans to four businesses for projects totaling almost $10.5 million. 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. Below are the small businesses that obtained METCO loans in February and March: In 2021, METCO approved more than $2.4 million in traditional METCO loans to 26 businesses, leveraging nearly $17.2 million in investment throughout the city. It also allocated $744,000 to 17 businesses through the Small Business COVID-19 Relief Loan Program, which provides small businesses negatively impacted by the pandemic with low-interest loans of up to $50,000 to pay for expenses that will sustain the business. To learn more about the city's METCO loan programs, visit https://louisvilleky.gov/government/louisville-forward/local-loan-programs. This press release was produced by the City of Louisville. The views expressed here are the author's own.