Louisville City FC and Major League Soccer’s Portland Timbers have agreed to a season-long loan deal sending midfielder Jorge Gonzalez to LouCity, the clubs announced Friday.
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The effort raised more than $1.1 million and loaned money to more than 120 small businesses in Floyd and Clark counties.
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The loan won't be used to buy new things but could be used to cover current expenses while the city waits for delayed tax revenue.
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Louisville leaders have launched a program that could help small businesses secure loans.
The trend has become especially popular for first-time buyers.
U of L President Neeli Bendapudi said in an email Thursday that the institution is lowering its loan request from the state to $35 million, from the previous $50 million.