From time to time, KHIC is approached by companies looking for financial support on a more revolving basis. The Current Asset Leverage Financing offered by KHIC is typically used to finance short-term needs of a business such as inventory purchases and in turn is generally secured by the current assets of the business (i.e. – cash, accounts receivables, inventory, etc.). The LOCs are set up on 1-year, renewable terms with each renewal going through the same evaluation and analysis process as the original request each time.

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.

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