LEXINGTON, Ky. (AP) — Kentucky Gov. Steve Beshear has announced an initiative to help small businesses with loans in an effort to increase job creation.
Beshear made the announcement Monday in Lexington at the Coldstream Center, which has 25 small businesses and more than 300 employees.
He said the Kentucky Cabinet for Economic Development will implement three new programs that will help small businesses access nearly $155 million in private loans.
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The state is able to offer the program through federal funding from the U.S. Department of Treasury, according to a statement from the governor's office.
Beshear called the program "another critical step in the right direction toward improving the Kentucky economy."
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