METCO Approves Four Loans to Small Businesses
Thursday August 29, 2013
Four loans in the amount of $144,655 were approved by the Louisville Metropolitan Business Development Corporation. These loans will leverage an additional $736,547 in private investment, to assist businesses in improving their buildings, which thereby helps the neighborhood build pride and improve the attractiveness of the retail district.
- $13,655 façade loan and $21,000 business loan to Sandy’s Florist & Bridal, located at 2533 Portland Avenue. The loan will help owner, Sandra Rogers, build out the space inside of her building for a caterer tenant and renovate both the front and rear of the building. Improvements include a new door, windows and trim around the windows.
- $50,000 façade loan to Sparjaks, LLC, located at 4417 Cane Run Rd. The loan will allow the owners Kusum and Paresh Kanji to renovate a former bank at this location. Now vacant, the building will become a new Subway restaurant, which will include the addition of a drive through for their business.
- $60,000 façade loan to Dan and Susan Rhema, located at 1701-1703 W. Market Street. The loan will allow the owners to renovate an old firehouse, including the interior for commercial and residential space, as well as their own living space. The loan will go toward new windows, storefront and tuck pointing to restore this currently vacant building.
For more information about the city’s small-business loan program, visit http://www.louisvilleky.gov/economicdevelopment/METCO.htm.