Kentucky to leverage nearly $155 million in small business loans

Governor Steve Beshear announced a major small business initiative that will provide Kentucky's small businesses with access to nearly $155 million in new loans to help with job creation across the state. The Kentucky Small Business Credit Initiative involves three new small business programs implemented by the Kentucky Cabinet for Economic Development to facilitate increased private lending to Kentucky’s small businesses. The programs include: the Kentucky Capital Access Program; the Kentucky Collateral Support Program; and the Kentucky Loan Participation Program. "This program is great news for the Commonwealth and another critical step in the right direction toward improving the Kentucky economy," Gov. Beshear said. "We want all of our families working, and we know small businesses are incubators for new jobs in our state. The small business credit initiative gives these small businesses an easier path to create those new positions. Economic development officials and business leaders deserve credit for working closely to establish the overall program." Read the full story here.