Mountain Association launches Grow EKY fund for Eastern Kentucky's essential businesses
What's the deal? The Mountain Association has launched the Grow EKY Loan Fund, a financing initiative for businesses and nonprofits that provide essential services across Eastern Kentucky. The fund pairs flexible, reduced-fee loans with one-on-one business coaching. Its size and investors were not disclosed.
Where it's aimed: Grow EKY targets four sectors — housing and skilled trades, food access, childcare, and disaster resilience. Eligible borrowers include neighborhood grocers, farmers, plumbers, electricians, contractors, and disaster recovery groups that struggle to access capital and technical support.
What's on offer: Beyond lending, the fund provides tailored coaching on business planning, financial management, and growth strategy. It also offers free energy assessments and up to five hours of technical assistance for solar and energy-efficiency upgrades.
Who's behind it? The Mountain Association is a Community Development Financial Institution and nonprofit — not a bank — serving the 54 Appalachian counties of Kentucky. Its loans range from $1,000 to over $1 million, with interest rates typically between 5% and 9.75%.
Why now? The launch comes as the Mountain Association pursues a two-year, $2 million Appalachian Regional CommissionDealroom has a profile for this one. Try Dealroom → initiative, matched with $500,000 from partners, to support essential-sector businesses across the same 54 counties. That effort aims to assist 450 businesses and help create 150 jobs.
"The businesses we rely on every day to provide food, housing, childcare, and recovery services are investing in the future of Eastern Kentucky," said Robin Gabbard, president of the Mountain Association. "Through Grow EKY, we are investing alongside them."
The signal: Grow EKY reflects a regional push to pair capital with practical support, rather than loans alone. By focusing on sectors tied to community resilience, the Mountain Association is betting that stable local services — not just high-growth ventures — are what Eastern Kentucky's economy needs most.
Read more: paintsvilleherald.com
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