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Metro Newsroom


Small Businesses Receive Loans From City Government

Tuesday May 4, 2010

Six local businesses, including a downtown loft project and an eye care office in Western Louisville, have received small-business loans this month from Louisville Metro Government.

The low-interest loans, totaling $330,500, will create new jobs and help expand the city’s economy, Mayor Jerry Abramson said.

The loans, approved by the Louisville Metropolitan Business Development Corporation, are:

· $30,000 loan to Broadway Eye Care Associates at 2600 W. Broadway. The loan will help Dr. Shorye Payne purchase laser equipment to help expand his practice.

· $30,000 loan to Toni Levy & Associates, an electrical and plumbing supply company at 1608 W. Broadway. Owner Toni Levy plans to purchase software that will allow her company to expand.

· $35,500 loan to Kathy Schmitt, which will help her purchase the Crescent Hill Trading Company, a home furnishings retail store at 2720 Frankfort Avenue. She is buying the business from Margaret Thomas, who is retiring.

· $100,000 loan to Kentuckiana Foam, at 1533 Bank Street. The money will help owners Michael Patton, Scott Williamson and J. Chris Smith purchase property at 1520 Lytle Street to expand their company, which manufactures chairs, tables and other custom furniture.

· $50,000 to Chenoweth Plaza Shopping Center at 3640 Brownsboro Road. The center, owned in part by the Waterman Family Trust, is being renovated.

· $85,000 to Ice House Lofts, a new downtown housing and commercial project at 217 E. Main St. Owner Dave Steinbrecher is making numerous improvements to the historic building that include lofts and space for catering and for wedding receptions.

For more information about the city’s small-business loan program, visit http://www.louisvilleky.gov/economicdevelopment/METCO.htm