Kentucky HB809 authorizes the Kentucky Economic Development Finance Authority to create a small business loan program.

Kentucky HB809 amends the Kentucky Revised Statutes to authorize the Kentucky Economic Development Finance Authority to develop and fund a small business loan program. The program allows the authority to lend up to $100,000 to eligible small businesses for various expenses. Eligible businesses must be engaged in manufacturing, agribusiness, or service or technology sectors, not primarily in retail, and commit to creating at least one new full-time job. The authority can set terms and conditions for the loans, which may be more lenient than industry standards.

Kentucky HB809 authorizes the Kentucky Economic Development Finance Authority to create a small business loan program.

Kentucky HB809 amends the Kentucky Revised Statutes to authorize the Kentucky Economic Development Finance Authority to develop and fund a small business loan program. The program allows the authority to lend up to $100,000 to eligible small businesses for various expenses. Eligible businesses must be engaged in manufacturing, agribusiness, or service or technology sectors, not primarily in retail, and commit to creating at least one new full-time job. The authority can set terms and conditions for the loans, which may be more lenient than industry standards.