Loans for $715,000
LOUISVILLE, Ky. (March 28, 2016) — Five businesses were approved for loans in the amount of $715,000 by the Louisville Metropolitan Business Development Corporation. The loans will leverage a total investment of $3.8 million and will assist the companies to revitalize properties and hire employees.
- Two loans were approved for MBJ Indian Springs, LLC, for its property at 3408 Indian Lake Drive. The loans will allow the owners to renovate the former Indian Spring Golf Course clubhouse to be occupied by a restaurant. The $50,000 façade loan will be used to brick the entire building to match the existing brick. The $100,000 business loan will be used to purchase equipment for the restaurant. Twenty-five full-time and thirty-five part-time jobs will be created with this project.
- $35,000 facade loan was approved for Nathan Smith for the property located at 815 S. 6th Street. The loan will allow Smith to make exterior improvements and additional renovations to prepare the structure for future use as an architecture business.
- Three loans were approved for CFG Holdings, LLC, located at 1202 S. 3rd Street. The loans will help redevelop the Old Louisville property that has been vacant for more than ten years to be used as a mortgage business.
- $200,000 KEOZ loan will be used for interior renovations.
- $50,000 façade loan will be used for exterior improvements.
- $15,000 accessibility loan will address accessibility issues.
- Two loans were approved for 1301 W. Main Street, LLC, located at 1301 W. Main Street. The$100,000 façade loan and $15,000 accessibility loan will allow the owners to build out handicap accessible restrooms, replace and repair windows and improve the existing storefront. The project will complement the ongoing investment being made in the Portland neighborhood.
- $150,000 business loan was approved for Radiant, Inc, located at 2301 Terra Crossing Boulevard, Suite 103 & 104. The business loan will allow owner Dr. Tiffany Smith to start a medical practice focused on alternative forms of treatment, including healing, disease prevention, and personalized health plans. This project will create seven full-time jobs and one part-time position.
The next meeting of the METCO board will be Thursday, April 28 at 9 a.m. on the 6th floor of the Metro Development Center, 444 S. Fifth Street.