Microenterprise Loan Program (Kentucky)
Last modified on February 12, 2015.
|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|
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
|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|
|Phone||502-564-4252, ext 4462|