Eight small Louisville [KY] businesses receive loans to expand (The Lane Report, KY)

The Lane Report
(7/25/2014 5:00 PM, The Lane Report)

LOUISVILLE, Ky. — Loans totaling $71,000 have been awarded to help eight small businesses in Louisville’s Shawnee Neighborhood expand. The loans are part of a program to support microbusinesses — those with five or fewer employees — created by the Louisville Metro Department of Community Services. The targeted efforts in Shawnee, part of the Shawnee Neighborhood Revitalization Strategy Area (NRSA), are grants given as a one-time incentive, which are forgivable after one year of operating. The loads are funded by federal dollars from a Community Development Block Grant by the U.S. Department of Housing and Urban Development to assist low to moderate-income microbusiness owners.