METCO Approves Loans to Three Small Businesses
Friday February 24, 2012
Three loans in the amount of $249,804 was approved by the Louisville Metropolitan Business Development Corporation. These loans will leverage nearly $3.9 million in total investment.
· $20,000 micro-loan to Go Natural, LLC, located at 83 Lyndon Lane Suite B. The loan will allow owners Mark Rorer, Camille Ransford and Johnetta Roberts to increase their inventory and advertising. Go Natural sells and distributes natural and organic hair and body products
· $100,000 loan to Anderson Wood Products Company, a manufacturer of wood products for the construction trade and furniture business. They are located at 1381 Beech Street. The working capital loan will allow the fourth-generation, family-owned business to ready their facility for purchase of new upgraded equipment that will increase their operations efficiency. The project will create nine new jobs.
· $129,804 Go Green loan to Rivergreen Water Recycling, LLC, located in Jefferson County Riverport. This loan will allow owners, William Whitlock, Sam George and James Adams, to treat industrial wastewater for discharge to the Metropolitan Sewer District system. The facility will offer customers service to ship industrial waste water by truck, rail, and barge. This project will create ten new jobs. Rivergreen also received state assistance through the Kentucky Economic Development Finance Authority. The Go Green loan consists of funds originally distributed to Louisville through the American Recovery & Reinvestment Act. It is a revolving loan fund.
For more information about the city’s small-business loan program, visit http://www.louisvilleky.gov/economicdevelopment/METCO.htm.