Gelato Gilberto, which plans to open a facility in Portland, is the first business to win loan approval under the 2012 Louisville Agribusiness Loan Program. The $500,000 fund combines city money from Community Development Block Grants and state tobacco settlement dollars, and makes it available through loans for businesses that expand production and buy at least 51 percent of their materials from Kentucky farmers. Gelato Gilberto's loan is contingent on the Kentucky Agricultural Development Board also approving a matching share, but owner Justin Gilbert says "We're very, very excited." Gilbert plans to buy milk, berries and honey from local farmers, and complete construction of the gelateria's Portland facility at 2500 Montgomery Street this summer. [WDRB.com]
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