METCO Board approves $200,000 in small business loans
The Metropolitan Business Development Corporation (METCO) Board today approved $200,000 in low-interest small business loans.
The METCO boards meets monthly to review, discuss and vote on applications for small business loans available through Louisville Metro Government. The city’s small business loan programs are administered by Louisville Forward.
The small businesses that obtained METCO loans in January:
- Talk Childcare to Me, LLC, a Black and Female-owned childcare facility, was approved for $100,000 in Small & Disadvantaged Gap Financing loan funds. The loan will be used for new furnishings and interior renovation of the property located at 3817 E. Indian Trail.
- Babie Bac’z LLC, a Black-owned, family-operated barbecue restaurant at 8533 Terry Road, was approved for a $50,000 COVID-19 Relief Loan.
- Ntaba African Safaris Inc., a tour operator and travel agency specializing in travel to Africa at 2407 Brownsboro Rd, was 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 investment throughout the city. It also allocated $744,000 to 17 businesses through the Small Business COVID-19 Relief Loan Program, which provides small businesses negatively impacted by the pandemic with low-interest loans of up to $50,000 to pay for expenses that will sustain the business.
Over $3.1 million in loans to 73 businesses have been approved through the COVID-19 Relief Loan Program since it began 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.