06/17/2022 | Press release | Distributed by Public on 06/17/2022 07:33
LOUISVILLE, KY (June 17, 2022) -The Metropolitan Business Development Corporation (METCO) Board has approved $345,000 in low-interest small business loans to five businesses during the last three months for projects totaling $791,000.
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 were approved for METCO loans in April, May and June:
So far this year, the METCO Board has approved $1.4 million in loans to 12 businesses, leveraging $11.4 million. That also includes five COVID-19 Relief Loans, which provide 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.
The METCO board meets on the third Thursday of the month at 9 a.m. Meetings are currently being held virtually. The remaining meetings for 2022 will be held on July 21, August 18, September 15, October 20, and December 8.
To learn more about the city's METCO loan programs, visit https://louisvilleky.gov/government/louisville-forward/local-loan-programs.
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