KY HB809

Kentucky Economic Development Finance Authority may lend up to $100,000 to eligible small businesses for acquisition, construction, expansion, working capital, or other approved business expenses

Loan terms may be more lenient, high-risk, or less stringent than industry standards, recognizing small businesses may have difficulty obtaining conventional financing

Eligible businesses must operate in manufacturing, agribusiness, service, or technology sectors and cannot be primarily engaged in retail

Loan recipients must commit to creating and maintaining at least one new full-time job above their employment level at the time of application