Thursday October 28, 2010
Four local businesses received small-business loans from Louisville Metro Government, including a new indoor karting venue and improvements to a new location of The Comfy Cow—the old Genny’s Diner and the house west of it on Frankfort Avenue.
The low-interest loans, totaling $626,668, will help several local businesses grow and expand and a new company to open, growing the city’s economy, Mayor Jerry Abramson said.
The loans, approved by the Louisville Metropolitan Business Development Corporation, are:
· $100,000 loan to Bluegrass Indoor Karting, a high-energy, recreational and entertainment venue at the Bluegrass Industrial Park. The loan will allow owner Justin Lewis to open the facility for indoor karting featuring high-performance Sodikarts, capable of speeds in excess of 40 mph. The facility will offer open karting, league karting and private events. Four fulltime and 26 part-time jobs will be created. The loan will be for purchase of an exhaust system and working capital for the venue.
· $340,000 Department of Energy loan to Jakeland LLC, located at 1201 Story Avenue. The DOE loan comes from stimulus money for a revolving loan fund for green services, processes or products. Jakeland LLC is a real estate holding company formed by Andy Blieden. The building on Story Avenue is 85,000 square feet of retail/commercial space that houses a restaurant, office space and light industrial space. The loan will replace the HVAC system, add new windows, skylights, and install drywall and new doors. Improvements will reduce energy cost in the building by $33,000 annually.
· $36,668 to Please & Thank You, LLC, located at 800 East Market. The loan will make improvements to the building through tenants Jason Pierce and Brooke Vaughn.
· $150,000 to Koogee/Frankfort Avenue, LLC. The loan will allow for improvements to the old Genny’s Diner and the house that sits west of it at 2223 Frankfort Avenue, which will serve as the future location of The Comfy Cow. The exteriors of both buildings will be improved with this project as well as the interior of the diner.
For more information about the city’s small-business loan program, visit http://www.louisvilleky.gov/economicdevelopment/METCO.htm