Economic Development Newsroom
Gelato Producer Receives Approval of First Agribusiness Loan
Friday January 24, 2014
Gelato Gilberto received approval of a $65,060 Louisville Agribusiness Loan, to expand their business with a wholesale component. The loan fund was created through a partnership with the state through the Kentucky Agricultural Development Fund and a match from the city.
Gelato Gilberto, owned by Justin Gilbert, was formed in 2006 after the owners moved to Italy and learned about making authentic Italian gelato. He currently owns a gelato shop in Norton Commons. This loan will allow the owner to expand their business by developing a wholesale component, increasing production and storage capabilities to meet their growing demand.
The Louisville Agribusiness Loan is a low-interest tool, created with Louisville Metro and the Kentucky Agricultural Development Board, targeted to assist businesses processing food grown by Kentucky farmers. The loan is targeted to contract packers or co-packers, food cooperatives, distilleries and wineries, dairy products processors, distributers, and processed products manufacturers. To be eligible, businesses must locate in the Portland Neighborhood, provide employment opportunities for Portland residents, and demonstrate that major ingredients in their product come from Kentucky farmers.
Upon approval from the state, Gelato Gilberto plans to open at 2509 Portland Avenue in mid-summer.
For more information about the city’s small-business loan program, visit http://www.louisvilleky.gov/economicdevelopment/METCO.htm.