Areas Served: Heartland Regional Micro-Enterprise Park in Greensburg, Kentucky
Low-Interest Loans for Start-up Projects, Job Creation Heartland Micro-Enterprise Loans are made to businesses located or locating in the Heartland Regional Micro-Enterprise Park in Greensburg, Kentucky Program Description The purpose of the Heartland Micro-Enterprise Loan Fund is to enhance job creation and stimulate private investment in Greensburg, Kentucky.
Loans are available to businesses located or locating in Greensburg’s Heartland Regional Micro-Enterprise Park to finance equipment or working capital needs.
Project Financing The maximum loan amount is 50% of the total project cost or $25,000, whichever is less.
The minimum loan size is $5,000. A minimum of 5% owners’ cash equity must be provided toward eligible project costs.
Completed applications are reviewed and considered on a first-come, firstserved basis with financing approval subject to bank approval and the availability of funds.
Eligible Projects Applications must first be made through a local bank in the Greensburg area and will be evaluated based on a project’s financial viability, its local economic impact and the amount of private investment leveraged.
Heartland Micro- Enterprise Loan Fund proceeds may be used to finance equipment purchases, working capital needs, and/or start-up costs associated with the location or expansion of operations in the Heartland Regional Micro-Enterprise Park.
Term of Loan The term of the loan will be matched with the local bank term.
Maximum term will not exceed 5 years.
Interest Rate All loans will have a 5% interest rate fixed for the life of the loan.
Contact InformationSouthern Kentucky Economic Development Corp.
Address: 2292 South Highway 27, Suite 340
City: Somerset
State: Kentucky
Website:
http://www.greensburgonline.com/index.aspx?nid=435
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