City loans to help fund downtown lofts, renovation of longtime bar

(LBF) -- Louisville Metro Government has approved loans totaling $410,000 to help seven businesses open, expand services or renovate properties.

The loans were approved by the Louisville Metro Departments of Economic Development and Resilience and Community Services through the the Metropolitan Business Development Corporation, better known as METCO. They will leverage nearly $7 million in investments, according to a news release.

METCO small-business loans were awarded to the following businesses:

• A $200,000 façade loan for Hughes Lofts LLC for its property at 209 E. Main St., formerly known as the Fetzer Building. The loan will allow owners Michael Schnell and Dave Steinbrecher to restore the exterior of the property to historical accuracy. The owners plan to redevelop the building into a mixed-use facility with residential units, a restaurant, and a green roof terrace over the parking structure.

(We reported about this project in April, after Schnell and Steinbecher bought the building for $2.56 million.)

• A $73,000 façade loan for French and Associates LLC for its property at 240 Amy Ave. The loan will allow the owners to continue making improvements to the French Plaza property in the Shawnee neighborhood.

Click here for a full list of the loans awarded to businesses in the area on Louisville Business First. 

Louisville Business First


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