Economic Development Newsroom
New METCO Loans Awarded
Friday August 29, 2008
Five local businesses, including a new restaurant in Valley Station, have been awarded small-business loans from Louisville Metro Government.
The low-interest loans, totaling $351,800,000, were approved recently by the Metropolitan Business Development Corp.
“These small businesses are the backbone of our local economy,” Mayor Jerry Abramson said. “These loans help business to expand and therefore help grow jobs in our city.”
The approved loans were:
- James and Dianna Lloyd, 8118 Preston Highway. A $40,000 façade loan to improve a commercial property on Preston Highway. New lighting, masonry work, windows and awnings will be added.
- Schuler Machine & Tool Co. A $125,000 low-interest loan will help Kevin and Robert Schuler purchase land and a building at 1538 S. 9th St. and 1519 S. 10th St. for a 30,000 square foot expansion. The expansion will add five new jobs.
- Ernestos’s Mexican Restaurant. A $100,000 low-interest loan will allow owner Ernesto Rivera to open a new restaurant in Valley Station, in Towne Center II. This will be Ernesto’s fifth restaurant.
- Stealth Steel, Inc. A $55,000 low-interest loan will help Robert Manning to purchase land and a building at 499 Roberts Avenue to expand his business, which provides structural and fabricated steel. The expansion will create three new jobs.
- Bike Courier, 2833 S. Fourth St. A $31,800 façade loan will help owners Jackie Green and Cindy Baker open a second bike store. They currently own Bike Courier downtown on W. Market St.
For more information, see www.louisvilleky.gov/economicdevelopment.