Facebook
Instagram
Twitter
LinkedIn
YouTube

Revolving Loan Fund provides vital support for area small businesses 

May 3, 2024
Work Matters Column by Anthony Hellmueller

Since its inception in 1968, the Lincoln Trail Area Development District (LTADD) has been dedicated to crafting innovative solutions to complex community challenges. As a Workforce Specialist for LTADD, I've witnessed firsthand the impact of one of our organization's best-kept secrets: the Revolving Loan Fund (RLF) program. 

In response to the unprecedented challenges posed by the COVID-19 pandemic, LTADD secured additional support from the EDA in 2020. A $550,000 grant, part of the federal CARES Act Recovery Assistance program, provided critical working capital gap funding to aid eight local businesses in our region. This underscores LTADD's commitment to supporting businesses during challenging times.  

Looking ahead, as the region experiences widespread economic growth and a tourism boom driven by burgeoning industries, we hope to see an increase in the number of small businesses that take advantage of the RLF program. With $330,000 currently available for loans, we stand ready to assist small businesses in financing new ventures and capitalizing on the region's economic momentum. 

Interested applicants are encouraged to visit LTADD's website for application details. Pre-applications are carefully reviewed by our staff, and promising candidates are invited to submit full applications, which undergo thorough assessment by the diverse and experienced LTADD Loan Review Committee. 

To learn more about the RLF program and how it can benefit your business, visit ltadd.org/services/revolving_loan_fund 

Anthony Hellmueller serves as Workforce Specialist for the Lincoln Trail Area Development District. He can be reached at anthony@ltadd.org.

 

The Kentucky Career Center – Lincoln Trail helps match job seekers with local employment and training opportunities. Our business solutions team offers employers of all sizes and industries personalized support to build a competitive workforce. We are an equal opportunity employer.

Our Social Networks

Facebook
Instagram
Twitter
LinkedIn
YouTube
Program is funded with Workforce Innovation and Opportunity Act Title I funds through the Kentucky Education and Labor Cabinet and the Lincoln Trail Workforce Development Board. The Lincoln Trail Workforce Development Board assures compliance with the Education and Labor Cabinet’s Methods of Administration, as amended, Nondiscrimination and Equal Opportunity Assurance and all other Nondiscrimination and Equal Opportunity requirements of WIOA.