LOUISVILLE, Ky. (WDRB) – Small business owners in the Louisville metro area now have more financing options.
This week, Mayor Greg Fischer announced the expansion of loan eligibility for small business and commercial renovation in hopes of helping businesses open and grow across the city.
âIt’s probably the most fun job I’ve had,â said Camille Anderson-Linton, owner of Highview Ice Cream and Coffee.
Anderson-Linton never really saw himself as a hot and cold person.
âNo, I’m pretty laid back,â she said.
But hot and cold is probably the best way to describe your business.
âIt’s the best industry to be in,â Anderson-Linton said. “Ice cream and coffee.”
Several years ago, Anderson-Linton used his savings to open the ice cream parlor and cafe at the Outer Loop Plaza. She said the business had started, but COVID-19 had slowed it down.
âThe pandemic has really hurt the restaurant industry,â Anderson-Linton said. “And I tell people all the timeâ¦ we’re in COVID survival mode.”
In this case, survival mode includes a loan to buy a food truck and bring your business to customers.
âA lot of people kind of stay at home,â Anderson-Linton said. “So the food trucks go to their homes, they go to the neighborhoods, they go to events.”
Anderson-Linton obtained the loan through the Metropolitan Business Development Corporation or METCO. The program has provided millions of dollars in low-interest loans to local small businesses.
“So the METCO loan program has been around for 40 years,” said Benjamin Moore, director of economic development for the Louisville metropolitan government.
Moore explained the two loans recently added to the program.
âOur business accelerator, which will now be available to all low and moderate income business owners in Louisville,â said Moore. âAnd the revitalization, the business revitalization loan, which eliminates a vacancy requirement. So basically what we’re looking at are these two loan products – alongside other METCO loan products – are now available to anyone. in the Louisville subway with a few qualifiers. “
“Business has picked up, but it is not where it would be without the pandemic,” Anderson-Linton said.
After getting through the ups and downs of the pandemic, Anderson-Linton believes the food truck and the loan will be a game-changer.
âI’m very excited about this,â she said. “The program not only helped me secure the food truck, but also provided working capital for the business.”
To learn more about loans or how to apply, click here.
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