METCO Board approves $280,000 in small business loans
LOUISVILLE, KY (January 20, 2023) – The Metropolitan Business Development Corporation (METCO) Board approved $280,000 in low-interest loans to two small businesses.
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 program, or METCO, is administered by the Department of Economic Development.
The following small businesses obtained METCO loans in January:
- Isopure, located at 11851 Plantside Dr. in Jeffersontown, was approved for a $200,000 Gap Loan and a $50,000 Midi loan. Isopure designs and manufactures specialized medical equipment and has been in operation for over 25 years. The Gap and Midi funds will be used to purchase equipment to manufacture its new Bicarb concentrate mixer and to hire an additional 12 employees.
- Charlie Handyman Service, LLC, a Black-owned contracting business located in the Shawnee neighborhood of west Louisville was approved for a $30,000 Midi Loan. The company has experience in residential and commercial construction and renovation. The loan will provide working capital for the upfront supplies to complete one or more contracts through Louisville Metro Government’s Home Repair program, which funds significant home repairs for low- to moderate-income homeowners.
The METCO board meets on the third Thursday of the month at 9 a.m. Meetings are currently being held virtually and can be accessed at the link below. The next three meetings for 2023 will be held on February 16, March 16 and April 20.
To learn more about the city’s METCO loan programs, visit https://louisvilleky.gov/government/louisville-forward/local-loan-programs