Kentucky Small Business Credit Initiative

KSBCI helps lenders finance credit worthy small businesses that would typically fall just outside of their normal lending guidelines. This program uses three distinct credit enhancement programs to reduce risks for participating lenders when they make loans to small businesses. 

Two local banks are currently qualified to assist with this program: 


Paducah Bank

Chad Lamb

555 Jefferson Street

Paducah, KY 42001



FNB Bank

630 Jefferson Street

Paducah, KY 42001

Marty Nichols, President


Lone Oak Office:

Kerri Eads, Office Manager & Business Lender



Kentucky Small Business Tax Credit

This program provides a nonrefundable tax credit to eligible businesses hiring one or more eligible employees and investing at least $5,000 dollars in qualifying equipment or technology. Most for-profit businesses with 50 or fewer full-time employees are considered eligible for this program.


Paducah Small Business Incentive Program

This program provides a $10,000 forgivable matching funds grant to eligible small businesses within the city limits of Paducah. Only six grants are given per fiscal year. Existing small businesses and new companies must meet the outlined requirements to be deemed eligible.


Roof Stabilization Program

This program was put in place to assist property owners within a defined area of historic dowtown Paducah. The program area stretches in general from Water Street to 7th Street and Jefferson Street to Kentucky Avenue. The purpose of the ordinance is to protect the historic structures, reduce the deterioration of the buildings and prevent greater expenditures by the City of Paducah by hopefully preventing the need for demolition. Property owners will be eligible to apply for financial assistance in replacing or repairing the roof of their buildings with financial assistance not exceeding 50 percent of the construction costs or 50 percent of the stabilization funds allotted by the City for the fiscal year. Also, third party construction estimates are required. Annual applications for assistance would be accepted for a specified period of time once a public notice is issued. The ordinance outlines an applicant’s eligibility based upon the urgency of the roof stabilization, the contribution of the structure on the National Register of Historic Places, the structure’s relationship to adjacent structures, and the capital commitment of the property owner to rehabilitate the structure.  The funds will not be available to the property owner until the rehabilitation work has been completed.