Beshear announces loan pool of over 2.5 million for Southeastern Kentucky businesses
Kentucky Governor Steve Beshear announced on Thursday a 400,000 grant to Kentucky Highlands Investment Corporation as an effort to add to economic growth in Eastern Kentucky. The Lexington Herald Leader is reporting that the state made the grant so KHIC could take advantage of a 1.3 million matching grant from the Community Development Financial Institutions Fund in the US Department of the Treasury. KHIC raised 900,000 privately and the state added the rest. KHIC provides loans, equity investments and other assistance to businesses in Southeastern Kentucky. KHIC was formed in 1968 to stimulate growth and create employment opportunities in a nine-county region of Southeastern Kentucky.