Local start-ups get loans from Caesars Foundation

NEW ALBANNY — Two regional businesses were recently approved for financing from the Caesars Foundation Small Business Revolving Loan Fund.

Wine Shop, LLC and Mile Mile and a Half, LLC, both operating in Southern Indiana, received loans of $50,000 each from funds established by the Foundation in 2008 and managed by One Southern Indiana. I was.

With over 35 years of combined experience in wine, spirits, hospitality and retail management, Lauren VanCleave and Jason Searby design wine shops to bring communities together and make them fun, engaging and welcoming to all. I expanded the world of the wine in a method to do it.

The tasting bar and boutique wine store will open Wednesday, November 2nd in the heart of downtown New Albany, offering food and drink from near and far. Low-risk, high-reward shopping is at the heart of what they do, introducing customers to new and exciting flavors in a cozy and accessible space.

Customers can sample before they buy, plan an event, or simply enjoy a drink in their neighborhood. We have a small team that specializes in collaborating with

Mile Mile and a Half, LLC was founded by Ronald Eve and Kevin Taylor to invest in renewable real estate to serve communities in Southern Indiana and the Louisville metro area.

They seek out defective or outdated properties and remodel and refurbish them to current standards and aesthetics for residential and commercial tenants. Ronald Eve oversees the day-to-day operations, and Kevin Taylor is responsible for project management of the acquired property renovations.

The Caesars Foundation of Floyd County Small Business Revolving Loan Fund helps start-up private companies expand their operations and grow or retain their workforce.

The fund is funded with $1,000,000 from the Caesars Foundation and managed by One Southern Indiana. For consideration, the business must be located or planned to be located in Floyd County and must have established a business for at least two years or have at least two years of applicable business experience.

Loan amounts range from $5,000 to $50,000 with maximum interest rates below the prime rate. The maximum loan terms are 10 years for land and building loans, 5 years for equipment loans and 2 years for working capital loans. One in Southern Indiana coordinates the activities of loan review boards, coordinates loan closings, and services outstanding loans.

Dr. Josh Kornberg, executive director of the Caesars Foundation in Floyd County, said:

“Part of our mandate is to foster economic development in Floyd County. Small businesses are the backbone of the economy, not just here in Floyd County, but across the United States,” he said. I look forward to watching your success and growth. ”

Wendy Dant Chesser, President and CEO of One Southern Indiana, said: Even through the pandemic and economic changes, we have continued to see people take bold steps to start or grow their dream business.

“We are grateful to the Caesar’s Foundation for funding these ventures and to the Loan Review Board for reviewing the requests. We wish these two businesses to flourish and increase the vitality of our region.” I am excited to see it.”

The Caesars Foundation of Floyd County is a private foundation established to benefit the community of Floyd County. The Foundation’s philanthropic focus traditionally falls into the categories of grants to charitable nonprofits, educational scholarships, and program-related investments that promote economic development.

In July 2006, one Southern Indiana was established as an economic development organization and chamber of commerce to serve Clark and Floyd counties. 1si’s mission is to provide connections, resources and services that help businesses innovate and thrive in the Southern Indiana/Louisville metropolitan area. For more information, 1si.org.

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