Louisville’s METCO Approves 10 Loans, Creating Over 200 New Jobs

Louisville, Ky., –The Louisville Metropolitan Business Development Corporation today approved 10 loans to four local companies.  The $1.2 million in METCO loans will leverage an additional investment of $5.6 million to assist in startup costs, renovating properties and preparing them for productive commercial reuse.

  • $74,625 DOE energy efficiency loan was approved for Aaron Frisbee, Larry Bisig and George Dumstorf III for the installation of solar panels on the roof of the Bisig Impact Center located at 640 S. 4th The solar panels will reduce energy consumption and have a life expectancy of 50 years. Bisig Impact Building
  • $200,000 business loan was approved for DC Rio, LLC dba Doc’s Cantina, located at 1201 River Road. The loan will allow owners Doc’s Cantina to improve the property for reuse as a modern Mexican restaurant concept in the former Tumbleweed property on the waterfront. This project will create 82 new full-time jobs, with part-time positions being created seasonally. The total investment for this project is $2.2 million.
  • Four loans were approved for Varanese Riverfront, LLC located at 3015 River Road. The loans will allow owner John Varanese to lease and renovate the property, which was previously home to Falls City Boat Marina. This project will create 149 new jobs and reflects a total investment of $3.4 million.
    • $50,000 façade loan
    • $15,000 accessibility loan
    • $200,000 business loan
    • $135,000 DOE energy efficiency loan
  • Four loans were approved for Butcherblock, LLC located at 1009, 1011, 1013, 1015 and 1019 E. Main Streets. The loans will allow owner Andy Blieden to renovate and improve five properties located in the heart of Butchertown. The total investment for this project is $1.2 million.
    • $156,000 green jobs loan
    • $86,000 façade loan
    • $33,400 accessibility loan
    • $252,800 KEOZ loan

 For more information about the city’s small-business loan program, visit http://louisvilleky.gov/government/louisville-forward/local-loan-programs