Thursday March 22, 2012
Six loans in the amount of $337,767 were approved by the Louisville Metropolitan Business Development Corporation. These loans will leverage $2 million in total investment.
· $100,000 loan to Preston Farms Popcorn LLC, located at 1000 Zane Street. The loan will allow owners Kermit and Al Highfield to purchase additional equipment, allowing the company to start a third shift and increase their supply. They received state incentives through the Kentucky Economic Development Finance Authority in December 2011, when the company was bought and relocated from Chapman, Nebraska.
· $42,750 loan to Children of Excellence School House Rock LLC, located at 3017 Hunsinger Lane. The loan will allow owners Michael Moss and Maurice Blakemore to start a new daycare in the Hikes Point neighborhood, creating eleven new jobs. Children of Excellence has a waiting list of 30 children.
· $30,017 façade loan to THCSJB, LLC, dba Highlands Tap Room, the tenant located at 1058 Bardstown Road. This loan will allow Tommy and Sally Clemons to improve the exterior of the Highland Tap Room’s new location, a building which has sat vacant for a number of years. Repairs will include new windows, painting, and installation of awnings.
· $50,000 façade and $10,000 accessibility loans to Loughton Company, LC, for properties located at 412-420 W. Oak Street. The two loans will allow owner Joseph Impellizzeri to renovate two historically significant buildings, in extreme disrepair, in the 4th and Oak corridor in Old Louisville. Improvements will include installation of a new brick façade, and glass storefronts, and the creation of handicap-accessible restrooms.
· $50,000 façade and $5,000 accessibility loans to Shelby Market Properties, LLC, for property located at 811 East Market. The two loans will allow owners Chris and Anne Fuller to remove the existing exterior to restore it to its original brick façade, as well as build new handicap-accessible restrooms.
· $50,000 façade loan to Vision FDB, LLC, located at 640 S. 4th Street. This loan will allow owners Aaron Frisbee, Larry Bisig and George Dumstorf III to renovate the façade of the Bisig Impact Centre building. Repairs will include new glass store front, painting, new marble panels and other general improvements.
For more information about the city’s small-business loan program, visit http://www.louisvilleky.gov/economicdevelopment/METCO.htm.