Loans

METCO Board approves $200,000 in small business loans

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Written by Publishing Team

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

METCO Boards meet monthly to review, discuss, and vote on applications for small business loans available through the Louisville Metro Government. Louisville Forward operates the city’s small business loan programs.

Small Businesses That Received MTO Loans in January:

  • Talk Childcare to Me, LLC, a black and women-owned childcare facility, has been approved for $100,000 in Small and Disadvantaged Gaps Fund Loan Funds. The loan will be used for new furnishings and the internal renovation of the property located at 3817 E. Indian Trail.
  • Babie Bac’z LLC, a family-owned and operated grill at 8533 Terry Road, has been approved for a $50,000 COVID-19 relief loan.
  • Approved by Ntaba African Safaris Inc. , a tour operator and travel agency specializing in Africa travel at 2407 Brownsboro Rd, for a $50,000 COVID-19 relief loan.

In 2021, METCO approved more than $2.4 million in METCO conventional loans for 26 companies, resulting in approximately $17.2 million of investment across the city. It also allocated $744,000 to 17 businesses through the COVID-19 Small Business Relief Loan Program, which provides small businesses adversely affected by the pandemic with low-interest loans of up to $50,000 to pay for expenses that will support the business.

More than $3.1 million in loans have been approved to 73 companies through the COVID-19 Relief Loan Program since it began in 2020, including two loans approved today.

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

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