LEXINGTON, Ky – Community Ventures (CV) was recognized as the SBA Microlender of the Year by the Kentucky Small Business Administration (SBA) for the seventeenth year in a row. CVKY’s recognizable impact in lending throughout the Commonwealth of Kentucky has paved the way for them to be recognized again this year. This past year, Community Ventures made 103 micro-loans to borrowers, totaling $787,950.00.
The SBA Micro-loan program allows CV to support startups and existing businesses, both in urban and rural settings with amounts smaller than typical bank business loans. The award recognizes Community Ventures’ efforts in extending these lending opportunities to startups and entrepreneurs throughout the state. CV has significant footprints throughout the urban areas of Lexington and Louisville, with heavy focus on the East End of Lexington, and the Russell neighborhood of West Louisville. They also have a presence throughout rural Kentucky in Owensboro, Campbellsville and Millersburg. In addition, CV is now the 10th largest SBA microloan program in the country, based on volume.
“We are thrilled to be named Kentucky’s Microlender of the Year for the seventeenth year in a row and honored to be able to continue our mission,” said Dan Heffernan, president of New Markets Tax Credits. “We are dedicated to improving the quality of life for individuals who lack access to opportunities, and we want those individuals to be able to achieve their dreams. We are glad to be a part of their journey.”
Community Ventures’ efforts do not end at loan closing. CV’s staff also provides ongoing business advice, assistance with business planning, and additional loans for growth and expansion as their client’s experience success. Community Ventures also works in conjunction with the SBA to operate the Women’s Business Center of Kentucky which offers targeted support and resources for women-owned business and entrepreneurs by offering technical assistance and training.
The Kentucky Small Business Administration hosted its annual SBA Lender’s Conference on Nov. 15 at Churchill Downs in Louisville. The Conference kicked off with a reception, followed by a full day of breakout workshops hosted by business leaders on a range of business development and entrepreneurial topics.