Mayor Greg Fischer today announced the first fifteen loans granted by a new Metro Government program, the Community Action Partnership Enterprise. The program provides small business loans for micro enterprises, which are business with five or fewer employees.
The awards totaled $100,000. If a business remains in operation for a year after the award, the loan is forgivable.
Adria Johnson is acting Director of Housing and Community Development with the Community Action Partnership. “We have really charged ourselves and one our main goals is to really bring people to a level of economic success, this is what it’s all about,” she says “if we can aid in the economic recovery in our community then hopefully we can lessen the number of people who are coming through our doors for crisis funding.”
The first fifteen recipients are low to moderate income entrepreneurs who were also given a 10 week business development course before applying for the loan.
“Businesses range from lawn care, to therapeutic massage, to catering, to technology,” Johnson says “this is just really an exciting time in our department and in our community.”
Existing businesses may apply for the next round of loans before July 29 and applications for new businesses will be accepted in the fall.