The Louisville Metro Department of Community Services and Revitalization offers a microbusiness program to help low and moderate income business owners with starting and growing small businesses. A microbusiness employs five or fewer people, including the owner. The program includes training, technical assistance and an opportunity to apply for a loan.
Many microbusinesses have little or no access to the commercial banking sector. Community Services and Revitalization (CSR) has created a revolving micro-loan program. The loans can be financed up to six years with a preference towards shorter-term loans. The repayment period will begin 60 days after the loan closing.
There are two programs available:
- The Ignite loan program is for businesses that have been open for at least one year. The loans range from $5,000 to $15,000, with an interest rate of 4%.
- The Spark loan program is for start-up businesses or businesses that have been open for less than one year. The loans range from $500 to $4,999, with 0% interest.
Technical Assistance and Outreach
The CSR microbusiness team provides technical assistance to business owners. Outreach services strengthen the assistance to small businesses through strategic partnerships in the small business community. CSR works with Louisville Metro’s Economic Growth and Innovation Office and other organizations in Louisville to assist small businesses. Services include:
- Pre-assessment counseling
- Business coaching
- Client referrals
- Community events and networking
- Business workshops
- Power Focus Microbusiness Roundtable meetings
Individuals or businesses that qualify for the program include:
- Businesses that employ five or fewer employees including the owner.
- The business must be located within Louisville/Jefferson County and the owner(s) must also live in Louisville.
- The business owner’s household income must fall at or below 80% of AMI to qualify for the program.
|Persons in Household
||50.1-80% of AMI |
||$34,000 or less |
||$38,850 or less |
||$43,700 or less |
||$48,550 or less |
||$52,450 or less |
||$56,350 or less |
||$60,250 or less |
||$64,100 or less |
For more information, call (502) 574-5168 or (502) 574-5866 or visit www.louisvilleky.gov/csr.
This project is federally funded by the Community Development Block Grant from the U.S. Department of Housing and Urban Development.