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Small Business Development Center outlines local results, asks Paducah partners to sustain $50,000 cash match
Summary
Aaron Hornet, local director for the Kentucky Small Business Development Center in Paducah, presented center results and funding model to the Paducah Board of Commissioners, reporting client service hours, business starts, capital closed and a $50,000 local cash match requirement (city contribution $5,000).
Aaron Hornet, center director for the Kentucky Small Business Development Center in Paducah, told the Paducah Board of Commissioners on Feb. 11 that the center delivered 632 client-hours during the federal fiscal year ending Sept. 30, 2024; helped start or purchase 24 businesses; supported $7,430,000 in closed loans or owner equity injections; and supported, retained or created 584 jobs across its service area.
Hornet said the Paducah center operates on multiple calendars (federal reporting, University of Kentucky program year and local finances) and requires a 1-to-1 local cash match for Small Business Administration funding. “The total amount of cash match that’s needed to operate the…
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