Kentucky Highlands Receives Federal Grant for Rural Capital Financing

Press Release

Kentucky Highlands Receives Federal Grant for Rural Capital Financing

Congressman Harold "Hal" Rogers (KY-05) announced today that the U.S. Department of Treasury has selected London-based Kentucky Highlands Investment Corporation (KHIC) to receive a financial and technical assistance award of $543,664 as part of the Community Development Financial Institutions (CDFI) Program. One of 89 organizations selected nationwide, KHIC will utilize these funds for business training and consultation, affordable financial capital assistance, and online resource development for companies in 22 southern and eastern Kentucky counties.

"For years, rural areas have struggled to access low-cost capital financing and top-notch guidance to compete in the global marketplace, but Kentucky Highlands is filling this gap in our region," stated Rogers. "This financial award speaks to the fine work Kentucky Highlands is doing toward business development throughout Appalachia and I look forward to seeing how this small federal investment translates into sustainable job creation in our growing communities."

Through the CDFI Program, the CDFI Fund invests in and builds the technical expertise and lending capacity of existing private, for-profit and nonprofit community-based organizations. Kentucky Highlands has been a certified CDFI since 1968.

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