Local loan programs

The Metropolitan Business Development Corporation (METCO), under the supervision of the Louisville Metro Government's Department for Economic Development, administers small business loans to assist with start-up capital, working capital, and capital improvements to commercial and public properties.  These loans are evaluated based on project cost and fund availability, with a variety terms and  interest rates depending on the loan program.

The METCO board meets on the third Thursday of the month at 9 a.m. Meetings are currently being held virtually. The remaining meeting for 2022 will be held on July 21, August 18, September 15, October 20, and December 8. View the meeting minutes.

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Click here to download a detailed brochure on Louisville Small Business Resource Ecosystem. 
Click here to download a PDF of our METCO loan programs, or below for translated fliers.
For more information, email our METCO team or call (502) 574-4140.
Business Accelerator Loan
The Business Accelerator Loan is offered to new and expanding small business owners in low- and moderate-income neighborhoods to expand available services and products. Loans of up to $50,000 are available for business owners who have credit or banking barriers. No collateral required; loan is offered at 8% interest rate.
Midi Loan
The Midi Loan provides start-up or expansion funds to small business owners. This loan is offered at a minimum of 5% interest rate, and amounts range from $15,000 to $50,000.
Gap Financing Loan
This loan provides up to 25% of project costs for eligible small businesses and can be increased to 50% for minority and woman-owned businesses. Maximum loan amount of gap financing is $200,000. This loan can be financed up to 10 years at a minimum rate of 5%.
Façade Loan
The loan is available to commercial property owners who revitalize neighborhood commercial corridors in Louisville. Façade 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 citywide 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%. 
Properties and businesses in Metro Council District 8 may be eligible for additional loan funds through the District 8 Accessibility Loan Program, which was created and funded by District 8 Councilman Cassie Chambers Armstrong.
Commercial Renovation Loan 
This loan provides financing for the renovation of commercial properties that are in serious need of repair regardless of occupancy. Without improvements to the structure, it would be unsuitable for resale, for lease, or for a business to utilize the property for the operation of their business. 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.
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.
Louisville Agribusiness Loan
The Louisville Agribusiness Loan is a low-interest tool used to assist businesses that are located in the Portland neighborhood and are processing food grown by Kentucky farmers. Loans are offered at minimum of 3% interest rate, up to $100,000.
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 costs of a real estate redevelopment project on a brownfield site. 
State-sponsored programs

The Kentucky Collateral Support Program (KYCSP) (the “Program”) provides a pledged asset (cash collateral account) to an enrolled lender of up to twenty percent (20%) of their loan in order to enhance the collateral coverage of a small business borrower that is otherwise qualified but unable to meet the lender’s security requirements. The cash collateral account will then be pledged as collateral on behalf of the borrower on a transaction by transaction basis and located at the participating lending institution or at other designated insured depository financial institution in the name of the Kentucky Economic Development Finance Authority (the Authority)

Kentucky small businesses may qualify for a non-refundable tax credit of up to $25,000 on their state income tax return through the Kentucky Small Business Tax Credit (KSBTC) program. The program is available to most for-profit businesses with 50 or fewer full-time employees.

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