LOUISVILLE, Ky. — Louisville officials have introduced a small business loan program meant to bring back the vibrancy of downtown.
The Louisville Downtown Partnership (LDP) introduced the loan program to financially help small business owners who want to open storefronts in downtown Louisville.
The Downtown Small Business Loan was created to "enhance vibrancy in downtown Louisville", according to an LDP press release.
Rebecca Fleischaker, executive director of LDP, said the nonprofit wants to overcome Louisville's hurdles when it comes to opening small businesses and ensuring they stay in business.
“This product’s goal is to help attract or grow new street level businesses, which creates more vibrancy on the street, boosts job creation, and reduces ground-floor vacancy, all of which improves safety in Downtown,” she said.
According to the LDP, 85 businesses have closed and 106 businesses have opened in downtown Louisville since 2020.
Through the fund, officials hope to provide 30% of its small business loans to local minority and immigrant-owned businesses.
Only businesses within Louisville’s Central Business District are eligible for this loan, according to the release.
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