Microenterprise Loan Program (Kentucky)

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Last modified on February 12, 2015.

EZFeed Policy

Place Kentucky


   
Applies to States or Provinces Kentucky
Name Microenterprise Loan Program (Kentucky)
Policy Category Financial Incentive
Policy Type Loan Program
Affected Technologies Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy
Active Policy Yes

Implementing Sector State/Province




























Primary Website http://thinkkentucky.com/smbd/SMBB.aspx



Last Review 2014-09-15


Information Source http://www.thinkkentucky.com/kyedc/pdfs/KMEL%20Fact%20Sheet.pdf


Summary

In partnership with Community Ventures Corporation, a non-profit community based lender, the Kentucky Cabinet for Economic Development has expanded the Kentucky Micro-Enterprise Loan (KMEL) program, which provides business loans and valuable technical assistance to entrepreneurs interested in starting or expanding a business.

To be eligible for loans through this program, a business must employ fifty or fewer employees and be located in one of the following counties: Allen Barren Breckinridge Butler Caldwell Carroll Christian Crittenden Grayson Hancock Henry Hopkins Livingston Logan Lyon Meade Metcalfe Muhlenberg Nelson Ohio Owen Simpson Todd Trigg Trimble Warren

Special emphasis is given to entrepreneurs in one or more of the following target groups: women-owned businesses, veteran-owned businesses, ethnic-minority owned businesses, microenterprises (companies with five or fewer employees), businesses owned by individuals classified with disabilities and businesses located in a U.S. Small Business Administration HUBZone qualified economically distressed area.

Maximum Loan Amount: $50,000



Policy Contact

Contact Name Mark Johnson
Department Cabinet for Economic Development
Division Small and Minority Business Branch
Address 500 Mero Street
Address 2 23rd Floor, Capital Plaza Tower
Place Frankfort, Kentucky
Zip/Postal Code 40601
Phone 502-564-4252, ext 4462
Phone 2 800-626-2250
Fax 502-564-5932
Email MarkL.Johnson@ky.gov
Website http://www.thinkkentucky.com/
     
     


















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