METCO board approves $200,000 in small business loans

The Metropolitan Business Development Corporation (METCO) Board of Directors today approved $200,000 in low-interest small business loans.

METCO’s Boards of Directors meet 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 got METCO loans in January:

  • Talk Childcare to Me, LLC, a Black and women-owned daycare center, has been approved for $100,000 in loan funds for financing small and disadvantaged Gap. The loan will be used to purchase new furniture and interior renovations to the property located at 3817 E. Indian Trail.
  • Babie Bac’z LLC, a Black-owned family barbecue restaurant at 8533 Terry Road, has been approved for a $50,000 COVID-19 relief loan.
  • Ntaba African Safaris Inc., a tour operator and travel agency specializing in African travel at 2407 Brownsboro Rd, has been approved for a $50,000 COVID-19 relief loan.

In 2021, METCO approved more than $2.4 million in traditional METCO loans to 26 businesses, leveraging nearly $17.2 million in investments across the city. It has also allocated $744,000 to 17 businesses under the COVID-19 Small Business Relief Loan Program, which provides small businesses negatively affected by the pandemic with low-interest loans of up to $50,000 for pay the expenses that will sustain the business.

More than $3.1 million in loans to 73 businesses have been approved under the COVID-19 Relief Loan Program since its launch in 2020, including two of the loans approved today.

To learn more about the city’s small business loan programs, visit https://louisvilleky.gov/government/louisville-forward/local-loan-programs.

###

About Jonathan Bell

Check Also

Ice Creamatory in Norman will serve Halloween scares year-round

Jimmy and Melissa Mikowski say they’ve never seen anything like they’re trying to do in …