This new Metropolitan Providers Development Company (METCO) administers Louisville Town Government’s business and commercial property financing getting brand new and you can increasing enterprises in the Jefferson County. Loans are used for begin-up-and expansion costs, and additionally equipment requests, buildout, and dealing money, and also for industrial assets advancements. Security is necessary for everybody METCO finance except the organization Accelerator Financing.
Find out more: Down load our METCO flyers below. To own questions, inquiries or even to demand a good pre-software meeting, email [current email address safe] or call (502) 574-4140.
New METCO board matches on 3rd Thursday of the week in the 9 good.yards. Group meetings are getting stored around. The remainder appointment having 2022 could be held for the Sep fifteen, October 20, and you can December 8.
Providers Accelerator Mortgage – To have smaller businesses into the lowest to modest money neighborhoods as opposed to accessibility so you’re able to equity or industrial lending. To possess people discover below 12 months, money is actually $fifteen,100000 – $30,000. Companies open more than one year may make an application for to $fifty,one hundred thousand. Loans was repayable over 7 ages at the an interest rate off 8%. Zero equity requisite.
Endeavor Pit Financial support Financing – Provides investment pit money as much as twenty-five% regarding project funds, otherwise around fifty% to own minority-possessed otherwise woman-possessed organizations. Borrower must sometimes has a first lender in position, otherwise were denied by the a commercial bank. Qualified expenditures are: gizmos, create away, payday loans in Fresno CA no bank account furnishings/fixtures, provides, catalog, and working resource. The structure is not qualified. Pit loans might not be utilized for to invest in houses otherwise residential property with the exception of down payment guidance to the industrial assets. Money was $25,000 – $two hundred,100, at least interest rate of five%, repayable more than a decade.
Facade Loan – Will bring investment to possess additional assets improvements to help you revitalize people commercial corridors. Qualified expenditures tend to be storefronts, masonry repair, home and you can windows substitutes, siding, paint, carpentry, signage, and you can landscaping. (Roofs and you can pathways are not qualified.) Financing is actually $fifteen,000 – $a hundred,100000, from the mortgage loan away from step three%, repayable more than a decade.
Access to Mortgage – Will bring resource to alter building access to and you will ADA-conformity. Qualified expenditures is interior and you can additional entry to improvements. Loans is actually $5,100 – $15,one hundred thousand at the an interest rate of 3%, repayable more cuatro age.
Commercial Renovation Financing – Brings money for the renovation off a commercial assets that’s or even an inappropriate on the process from a corporate, or even for industrial rent. Loans are $15,one hundred thousand – $250,100000 or higher, on mortgage loan out-of step three%, repayable more than 10 years.
Green living Mortgage – Brings financial support to possess energy efficiency updates or businesses starting environmentally friendly products or functions. Financing was $15,one hundred thousand – $two hundred,100000 or more, at a minimum rate of interest away from step 3%, repayable more than 10 years.
Louisville Agribusiness Mortgage – Will bring funding so you’re able to companies that processes, distribute, if not add well worth so you can food mature from the Kentucky producers. Loans was $15,100000 – $250,100000 at the very least interest rate out of dos.75%, repayable more ten years.
Local mortgage applications
Brownfield Tidy up Loan – Provides financial support in order to possible and existing homeowners to your ecological tidy up costs away from eligible brownfields so the property are returned to help you energetic play with.
State-sponsored applications
This new Kentucky Guarantee Help System (KYCSP) (new “Program”) will bring a bound asset (dollars collateral account) to a signed up financial all the way to twenty per cent (20%) of the financing so you’re able to boost the collateral publicity out of a small business debtor that’s or even qualified however, incapable of meet up with the lender’s defense criteria. The money collateral account will be bound since the collateral with the part of your borrower on an exchange by purchase foundation and you will found at the fresh new acting lending institution or in the other appointed insured depository lender regarding term of Kentucky Economic Innovation Finance Authority (brand new Expert)
Kentucky smaller businesses could possibly get be eligible for a low-refundable income tax credit as high as $twenty five,000 on their county taxation get back from the Kentucky Small Company Taxation Borrowing (KSBTC) system. The application is present to many to have-funds enterprises which have fifty otherwise a lot fewer full-time professionals.
