Launching $5 Million in New Loan Funds for Kentucky Small Businesses
On October 15, 2012, Kentucky Highlands Investment Corporation announced a partnership with Goldman Sachs 10,000 Small Businesses to bring capital for small business owners to Kentucky.
Goldman Sachs and the Goldman Sachs Foundation have pledged $5.5 million for Kentucky businesses through KHIC. Of that, $5 million will go directly into KHIC’s loan fund and will be available for lending to small businesses located in low and moderate-income areas throughout Kentucky. $250,000 will be used as a loss reserve grant and the remaining $250,000 will be used to build the capacity of KHIC so that it can continue to provide vital business services to Kentucky entrepreneurs. The program in Kentucky will also focus on providing technical assistance.
Businesses can apply for these funds through KHIC’s standard lending program. Businesses are encouraged to call KHIC’s office at 606-864-5175 for more information regarding lending and technical assistance services.