A restaurateur and retailer are the latest to receive small-business loans from Louisville Metro Government.
More than 30 thousand dollars will be used to open a restaurant and bar on East Market street downtown and 50 thousand will be spent turning an empty K-Mart building in Highview into a new retail center.
Department of Economic Development Business Ombudsman Rebecca Fleischaker says similar businesses have moved out of those areas, but the city is optimistic these new ventures will be successful.
“This loan – revolving loan fund – couldn’t exist if we didn’t get the money to give back, so some people fall into default and we try to work with them to get them back into good standing,” she says. “Obviously we want them to pay the loan back.”
The money comes from a specific fund that was established for small-business loans.