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Louisville Development Bancorp, Inc.
2901 West BroadwayLouisville KY, 40211
Louisville Development Bancorp (LDB) is a certified CDFI.Louisville Development Bancorp (LDB) will make equity investments in and loans to businesses and real estate projects that contribute to the revitalization of low-income inner city neighborhoods in Jefferson County, Kentucky. The types of businesses that will be funded include mixed-use housing developments, grocery stores, and cultural- and tourist-related businesses, such as hotels and museums. LDB will also partner with the Louisville city government in administering a Small Business Revolving Loan Fund to provide loans to emerging small businesses that do not have access to traditional lending sources.
CDFI Awards for Louisville Development Bancorp, Inc.
NMTC (2008) - $40,000,000
Louisville Development Bancorp, Inc. (LDB) will use its NMTC allocation to make subsidized loans to businesses and community development projects in Louisville. Projects receiving funding must demonstrate that they either could not be completed at all, or could not be completed to the same scope, without the availability of the lower-cost financing. LDB will offer borrowers loan products with favorable rates and more flexible terms, including interest rates at least 50 percentbelow market, no origination fees, and interest-only payments during the initial seven years of the loan. 100 percent of the allocation will be deployed in areas of higher economic distress.
NMTC (2005) - $8,000,000
Louisville Development Bancorp (LDB), a certified CDFI, will makes loans to small businesses and real estate project that contribute to the revitalization of low-income communities in Louisville, KY. With its NMTC allocation, LDB will be able to offer its borrowers more favorable interest rates (200 to 400 basis points below market rate) and more flexible terms, such as interest only payments during the initial seven years of a loan. LDB will target businesses or projects that either could not be completed at all, or could not be completed to the same size or scope, without the NMTC investment.
NMTC (2003) - $62,500,000
With its NMTC allocation, LDB will be able to: offer borrowers more favorable interest rates, which will be two to four percent below market rate; more flexible terms, such as the elimination of origination fees; and much larger equity and debt offerings.
CORE (1996) - $2,336,500
Equity from the CDFI Fund is expected to play a central role in helping to raise the capital necessary to launch this important new effort.
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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