The Micro Enterprise Loan Fund was created at Kentucky Highlands Investment Corporation to address the needs of small business start-ups and expansion projects. Aside from the financing the client receives from KHIC, the added bonus of the provision of technical assistance will be included for each client to take advantage of.

Loans and technical assistance are limited to only those operating in KHIC’s service area. This is a 22-county region comprised of Bell, Clay, Clinton, Cumberland, Estill, Harlan, Jackson, Knox, Laurel, Lee, Leslie, Letcher, Lincoln, Madison, McCreary, Owsley, Perry, Pulaski, Rockcastle, Russell, Wayne, and Whitley.

Businesses engaged in gambling, speculative lending or investing, pyramid sales, or floor planning are not eligible for the program. Businesses must also meet the size standards set for “small businesses” established by the Small Business Administration.

Other minimum requirements:

• Applicant must be of legal age to enter into contracts (currently 18+ in the state of Kentucky)
• Business must be located in the KHIC Service Area defined above
• Eligible business types: Industrial, Service, Commercial
• Applicant’s personal credit rating will be factored into the loan decision
• Applicant must be the business owner or a senior partner in the business