Economic Development Newsroom


METCO Approves 9 Loans for Small Businesses

Friday May 30, 2014

Six businesses were approved for a total of nine loans in the amount of $497,800 by the Louisville Metropolitan Business Development Corporation. These loans will leverage a total investment of $6.7 million to assist six businesses in the food and beverage sectors, façade and accessibility improvements, and an entertainment destination.

-          $50,000 façade loan AND $10,000 accessibility loan to Flash Investments Properties, LLC, for its property located at 120 N. 10th Street. The loans will allow owners Roy and Jamia Taylor to improve the building where they plan to have their bourbon distilling business, Kentucky Peerless Distilling, located.

 

-          $50,000 façade loan AND $10,000 accessibility loan to KSG Ventures, LLC, for its property located at 9601 Shelbyville Road. The loans will allow owner Kevin Grangier to refurbish a long-vacant building to become a restaurant, Kevin’s Fish & Lure. This restaurant also received a $100,000 business loan to get the new seafood concept started and open. The project will create 10 full time and 50 part time jobs.

 

-          $50,000 façade loan to 4 Blokes, LLC, for its property located at 1512 Portland Avenue. The loan will allow the owners to improve the building, including changing entrances and access to the front of the building. The owners have signed a 5-year lease with Tim Faulkner Gallery, which will sublease space to several artists, in addition to being his residence.

 

-          $139,000 business loan to Off-Broadway Lofts, LLC to help with the final phase of fit-out for the Mercury Ballroom, located in the Wright Taylor Building, located at 611-616 S. 4th Street.

 

-          $32,800 façade loan AND $56,000 business loan to Please and Thank You, LLC, to expand their operations to a new location, at 231 N. 17th Street. The loans will allow owner Brooke Vaughn to expand their kitchen space, which they have outgrown at their East Market location, in order to accommodate their wholesale kitchen operations and grow their business. There also will be walk-up and exterior sit-down access for coffee and pastry consumption. This project will create four part time positions.

For more information about the city’s small-business loan program, visit http://www.louisvilleky.gov/economicdevelopment/METCO.htm.

###