LOAN FUND
The purpose of the Small Business Loan Fund is to provide funds to new or existing businesses with short-term financing needs.
Businesses must be located within the designated Investment Area; or the business must create or retain jobs for residents of West End, Smoketown, Shelby Park and Phoenix Hill. LEG intentionally restricts 100% of its lending and development activities to these neighborhoods as this where help is most needed in Louisville.
Possible business needs financed through the fund are equipment purchases, inventory, financing, short-term working capital, and accounts receivable. Both installment loan and line of credit options are available.
Louisville Enterprise Group has provided over 500 entrepreneurs with technical assistance, and over 1,200 individuals have attended our classes, seminars and workshops.
The following requests will be made with the submission of a loan application:
1. The business must have a reasonable chance of success.
2. Personal equity is required.
3. Collateral is required, as well as personal guarantee of the borrowers.
4. The loan application must also include:
A. Current business plan
B. Three years business financial statements
C. Three years business tax returns
D. Three years personal tax returns
E. Current Personal Financial Statement
5. Other information unique to the business as may be required by the Small Business Loan Fund loan committee.
Once all of the information is compiled, please submit it to the Louisville Enterprise Group for consideration.
Louisville Enterprise Group
Suite 320
2900 West Broadway
Louisville, KY 40211
(502) 776-6000
(502) 776-4434 Fax