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METCO Approves Four Small Business Loans

Friday March 25, 2011

Four local businesses received loans from Louisville Metro Government, including a new popcorn business and improvements to the former firehouse on Frankfort Avenue and a retail storefront on Shelbyville Road.

A total of $235,000 in loans was approved by the Louisville Metropolitan Business Development Corporation, leveraging private dollars for a total investment of $1,955,374.

Projects include:

· $75,000 façade loan and $10,000 accessibility loan Frankfort Avenue Firehouse, LLC, located at 1761 Frankfort Avenue. The loan will assist in the renovation of this facility that is in need of repairs and redevelopment. Improvements include tuckpointing and two handicap-accessible restrooms.

· $50,000 façade loan to 4232 Shelbyville Road, LLC, for improvements to revitalize this 16,000-square foot building. Improvements include new storefront, awnings, and signage.

· $100,000 loan to Preston Farms Popcorn LLC, located at 1901 South 7th Street. This loan will allow the owners Carroll Mackin and Leigh Anne Preston to move its microwave popcorn business from Palmyra, Indiana to Louisville. METCO funds will be used toward the purchase of the property and equipment.

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