Applications for Princeton’s new small business Revolving Loan Fund are now available.
Mayor Kota Young announced on social media Thursday that the loan fund is for local businesses who have been hit hard following mandates issued by Governor Andy Beshear to help the state comply with social distancing guidelines set by medical officials during the ongoing coronavirus (COVID-19) outbreak.
The Economic Development Revolving Loan Fund was proposed by Mayor Young after Governor Beshear mandated that restaurants close their dinning rooms on March 16th. In a statement read during a city council meeting Mayor Young explained that the $250,000 revolving loan fund would not put a strain on tax payers.
The revolving loan fund was then established following unanimous city council approval at a special called meeting March 18th.
For more information about the application you can contact Mayor Kota Young at Princeton City Hall at 270-365-9575 or at 270-625-4827 or by email at kotayoung.princeton@gmail.com.
