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Kentucky Highlands Investment Corporation
London KYKentucky Highlands Investment Corporation (KHIC) is a community development venture capital fund that uses its financial resources to leverage employment opportunities in its nine county service area of rural Southeastern Kentucky. KHIC has over 30 years of experience in financing and developing business and industry in its economically distressed region. KHIC couples its investment with entrepreneurial development and assistance to businesses already located in the region or considering locating there.
CDFI Awards for Kentucky Highlands Investment Corporation
NMTC (2008) - $10,000,000
Kentucky Highlands Investment Corporation (KHIC), a rural CDFI, will finance businesses and community facilities in rural Kentucky with a focus on growth business sectors such as heath care, homeland security, education and renewable energy. The NMTC allocation will enable KHIC to expand its financing products and make larger loans. These loans will include interest rates that are substantially below market, and will include several other flexible terms. KHIC will seek to attract both small regional banks and larger urban banks as investors.
FA (2008) - $543,664
Kentucky Highlands Investment Corporation (KHIC) is a certified CDFI established in 1968. KHIC provides micro and non-micro loans and development services to businesses in 22 rural Kentucky counties. KHIC will use its 2008 Financial Assistance award of $443,664 for financing capital and its Technical Assistance grant of $100,000 to: 1) pay staff salary and benefits; 2) attend training; 3) develop a database and a web application; and, 4) obtain a new computer server.
NMTC (2005) - $206,663
ADA will use the $950,000 financial assistance award to replenish members" fully deployed loan funds, provide capital to help members diversify their portfolio into value-added wood products and agricultural loans as well as to offer more flexible lending structures to their borrowers.
FA (2005) - $206,663
ADA will use the $950,000 financial assistance award to replenish members" fully deployed loan funds, provide capital to help members diversify their portfolio into value-added wood products and agricultural loans as well as to offer more flexible lending structures to their borrowers.
CORE (2000) - $2,250,000
The CDFI Fund"s $2,250,000 award ($250,000 capital grant and $2,000,000 loan) will help leverage other investments and will enhance the organization"s investment capacity.
CORE (1999) - $1,200,000
The CDFI Fund"s $1,200,000 capital grant will be used to leverage significant outside investment in KHIC and to enhance the organization"s volume of new investment activity.
CORE (1996) - $450,000
The CDFI Fund"s $450,000 grant to Kentucky Highlands will provide flexible resources to enhance its investment capacity.
Other Community Development Financial Institutions in Kentucky
CNC Development Corporation, Inc.
Paintsbille
Community Ventures Corporation, Inc.
Lexington
Louisville Development Bancorp, Inc.
Louisville
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