Economic Growth and Innovation Newsroom
METCO Awards Loans to Four Local Businesses
Thursday September 22, 2011
A total of $207,600 in loans was approved by the Louisville Metropolitan Business Development Corporation. These loans will leverage nearly $3.4 million in private investment.
· $75,000 loan to Fromage Inc (dba The Cheddar Box), located at 3909 Chenoweth Square. The loan will allow owner Nancy Tarrant to open a sit-down restaurant, from a carry-out only operation.
· $60,000 loan to Core Recoveries, LLC, located at 2600 Eastpointe Parkway. The loan will allow owners Matthew Korn, Thomas Wantuck and Christopher Elmore to start a collection agency that will specialize in collecting student loans.
· $50,000 façade loan to Falls City Lofts, LLC, located at 415 E. Market Street. The loan will allow the business partners to improve a dilapidated building that is currently underutilized and in disrepair. Plans call for a mixed use development, with retail on the lower level and 14 condominium units on the upper floors. This building is the original Bacon’s building.
· $22,600 façade loan to Farmboy Foodmart, LLC, located at 1802 W. Oak Street. This loan will allow owners Luai and Nussiba Hasouneh to make façade and accessibility improvements to the building.
For more information about the city’s small-business loan program, visit http://www.louisvilleky.gov/economicdevelopment/METCO.htm