Microenterprise Loans Available in KY
Gov. Steve Beshear and Cabinet for Economic Development officials announced the expansion of the Kentucky Micro Enterprise Loan Program earlier this month. These loans could be a great tool to help fund RE/EE businesses.
The program, now available to all Kentucky counties, provides financing up to $35,000 for entrepreneurs and small business operations that, in most cases, would find it difficult to obtain conventional funding. It is funded by a one-time state allocation of $125,000 from the Kentucky Economic Development Finance Authority (KEDFA).
The Cabinet for Economic Development routinely works with small business organizations from across the state to provide resources, advocacy and assistance to small and minority businesses. For more information about the Kentucky Micro Enterprise Loan Program and the cabinet’s other small business programs, visit www.ThinkKentucky.com.