Local loan programs

The Metropolitan Business Development Corporation (METCO) governs metro government’s small business loans, and provides financial assistance through commercial loans for new and expanding businesses, including facade, accessibility and gap financing loans. These loans are evaluated on project cost and fund availability, with a variety of interest rates, depending on the loan program.
You can get pre-screened for a loan by filling out this form.
Business Accelerator Loan
The Business Accelerator Loan, offered to new and expanding small business owners in the nine neighborhoods of west Louisville, to expand available services and products. Loans are up to $50,000 for business owners who have credit or banking barriers. No collateral required; loan is offered at 8% interest rate.  Click here to view and download the Business Accelerator Loan flier. 
Louisville Agribusiness Loan
The Louisville Agribusiness Loan is a low-interest tool targeted to assist businesses processing food grown by Kentucky farmers and who are located in the Portland neighborhood. Loans are offered at minimum of 3% interest rate, up to $100,000.
Midi Loan
The Midi Loan provides start-up or expansion costs to small business owners. This loan is offered at a minimum of 5% interest rate, ranging from $15,000-$50,000.
Gap Financing Loan 
This loan provides up to 25% of project costs, or $200,000, in gap financing, to eligible small businesses. This loan can be financed up to 10 years at a minimum rate of 5%. 
Gap Financing Loan 
Gap Financing Loan provides up to 25% of project costs, or $200,000, in gap financing to eligible small businesses. This loan can be financed up to 10 years at a minimum rate of 5%.
Go Green Loan
This loan helps businesses increase energy efficiency and/or create “green” jobs. These loans can be used for energy-efficiency upgrades or businesses creating green products or services. Loans are offered at minimum of 3% interest rate.
Facade Loan
The Facade Loan is available to commercial property owners to revitalize neighborhood commercial corridors in Louisville. Facade loans are awarded for exterior property improvements, including window and door replacements, storefronts, masonry repair, siding, painting, carpentry, signage, and landscaping, and are offered at fixed rate of 3% over 10 years.
Accessibility Loan
Accessibility Loans are offered to commercial property owners for the purpose of making buildings more accessible to people with physical disabilities. Loans are limited to $15,000 for exterior or interior accessibility improvements and are loaned at a maximum of 100% of the total approved project at a fixed interest rate of 3%.
If you business is located in Metro Council District 8, you may be eligible for the District 8 Accessibility Loan Program. Click here to learn more about the program. 
Commercial Renovation Loan 

The Commercial Renovation Loan provides financing for the renovation of commercial properties that have been vacant for a significant amount of time and are in a state of disrepair. Without improvements to the structure it would be unsuitable for a business to utilize the property for the operation of their business, resale or to lease. The loan will be collateralized by a mortgage on the improved property but other collateral may be used in place of or in addition to the improved property as approved by the METCO Board. 

Brownfield Cleanup Loan Program (BCLP)
This loan allows brownfield property owners and prospective purchasers to clean brownfield properties and return them to productive use. BCLP provides low-interest financing only for the environmental cleanup portion of the total costs of a real estate redevelopment project on a brownfield site. 
Click here to download a pdf of our local loan programs. 
The METCO board meets the fourth Thursday of each month. Meetings are at 9:00 a.m., at the offices of Louisville Forward, located at 444 S. 5th Street, 6th floor. The meeting schedule for 2019 is January 24, February 28, March 28, April 25, May 23, June 27, July 25, August 22, September 26, October 24 and December 12. View the meeting minutes.
For more information, contact Brenda Hyatt or call 502.574.4140.

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