November 4, 2026
By Tim Perusek
Kentucky businesses are ready to grow. But for many owners and operators, securing the right capital can be one of the biggest obstacles to expansion.
From manufacturers looking to increase production capacity to growing companies investing in new facilities, equipment, and employees, access to flexible financing can make the difference between putting plans on hold and moving forward.
Advantage Capital is working to help Kentucky businesses take that next step.
Through New Markets Tax Credit (NMTC) programs, we provide growth capital to eligible businesses in communities where traditional financing may be limited.
With more than $122 million invested in Kentucky small businesses alongside our partners, we’re building on our track record and actively seeking new investment opportunities.
The Kentucky NMTC Program Explained
The Kentucky NMTC program is an economic development initiative designed to encourage private investment in businesses located in qualifying communities across the state.
By leveraging tax credits to attract private capital, the program helps make financing available to businesses that may face challenges accessing traditional funding.
For Kentucky business owners, this means an opportunity to secure flexible debt or equity financing to support business growth, expansion, and job creation.
Rather than providing grants or tax credits directly to businesses, the program helps investment firms like Advantage Capital deploy capital to eligible companies.
Is Your Kentucky Business Eligible for NMTC Financing?
Advantage Capital is currently assessing debt and equity investment opportunities in early-stage to mature Kentucky businesses across a broad range of industries.
Businesses should meet the following criteria to be considered:
- Location: Located in an eligible Kentucky census tract.
- Financing needs: Seeking up to $10 million in financing.
- Business operations: Primarily operating in Kentucky.
Eligible businesses may be seeking capital for a variety of purposes, including expanding facilities, purchasing equipment, increasing production capacity, hiring employees, or supporting other growth initiatives.
Meeting the initial criteria does not guarantee financing, but it can be a starting point for a conversation with our investment team.
Not sure if your business qualifies? Contact our Kentucky investment team to discuss your business and potential financing opportunities.
How Kentucky NMTC Financing Supports Business Growth
Every business has different capital needs. Some companies need financing to expand production, while others are investing in new technology, strengthening operations, or entering new markets.
Advantage Capital works with business owners and operators to identify financing solutions aligned with their growth objectives.
Our financing options include:
- Senior and senior-stretch debt: Business loans that can support expansion, equipment purchases, working capital, and other growth needs.
- Subordinated or mezzanine debt: Financing that can complement existing capital structures and support business growth.
- Minority equity: Non-controlling investments that provide growth capital while allowing owners to retain a controlling interest in their businesses.
By offering multiple financing structures, we provide businesses with capital that supports their long-term plans.
Kentucky Businesses Putting Growth Capital to Work
Advantage Capital has a history of investing in Kentucky companies that are creating jobs, strengthening local industries, and expanding economic opportunities.
Two examples demonstrate how investments made in connection with the Kentucky NMTC program have supported businesses at different stages of growth.
Commercial Specialty Truck Holdings: Supporting Manufacturing and Job Creation
Commercial Specialty Truck Holdings (CSTH), a manufacturer serving the ready-mix concrete and refuse industries, was formed through the consolidation of E-Z Pack and Continental Mixing.
The company needed capital to stabilize operations, reinvest in its facilities, and position the business for continued growth.
Through investments made in connection with the Kentucky and federal NMTC programs, Advantage Capital helped CSTH preserve a significant number of existing jobs and invest in the company’s future.
The results demonstrate the role growth capital can play in strengthening local manufacturing:
- $10.5 million invested
- 298 jobs supported
- More than 130 jobs created since the initial investment
Beyond job creation, CSTH is investing in its workforce through specialized training, local school partnerships, and employee benefits that support long-term financial security.
The company’s experience demonstrates how access to investment capital can help established manufacturers overcome challenges, strengthen operations, and create new opportunities for local workers.
Watch CSTH’s story: Learn how the company is supporting manufacturing and employment opportunities in Kentucky through our Impact Trail series.
Gravity Diagnostics: Expanding Healthcare Services
Covington-based Gravity Diagnostics is a nationally licensed clinical laboratory providing advanced diagnostic testing services to healthcare providers, employers, and patients.
As demand for its services grew, the company sought capital to expand its commercial team, strengthen payor relationships, enhance facilities, and broaden its testing capabilities.
A $5 million investment made in connection with the Kentucky NMTC program provided flexible financing to support these initiatives.
The investment has helped Gravity Diagnostics scale operations, expand access to diagnostic services, and support 228 jobs.
The company is also committed to workforce development and employee opportunity. Its benefits include retirement contributions, health coverage, paid parental leave, and professional certification reimbursement.
With 37% of positions accessible to individuals with a high school diploma or equivalent, Gravity Diagnostics is helping create career opportunities for workers with a range of educational backgrounds.
Its growth demonstrates how NMTC financing can support businesses in industries beyond manufacturing while contributing to employment and economic development in Kentucky.
Why Kentucky’s NMTC Program Matters for Local Businesses
Kentucky businesses play an important role in creating jobs, supporting local supply chains, and strengthening communities across the state.
However, even established companies with promising growth plans can encounter financing challenges. Expansion projects often require significant upfront investment, and traditional financing may not provide the flexibility businesses need.
The Kentucky NMTC program helps address this challenge by encouraging private investment in qualifying communities.
For business owners, access to additional financing options can make it possible to move forward with projects that might otherwise be delayed or scaled back.
Our goal is to support growth-ready Kentucky businesses with the capital and investment experience needed to pursue these opportunities.
With more than 30 years of experience, we understand that successful investments begin with understanding the businesses, people, and communities behind them.
Ready to Grow Your Kentucky Business?
Whether you’re planning a facility expansion, investing in new equipment, growing your workforce, or pursuing your next stage of business development, we want to hear from you.
Our team works with business owners and operators to evaluate financing needs and identify potential opportunities through the Kentucky NMTC program.
Ready to explore your financing options? Contact our Kentucky investment team to discuss your business, growth plans, and potential eligibility.
Let’s grow Kentucky businesses together.
Advantage Capital Investment Adviser, LLC (“ACIA”), a wholly owned subsidiary of Advantage Capital Management Corporation (“Advantage Capital”), is an investment adviser registered under the Investment Advisers Act of 1940. Registration with the SEC does not imply a certain level of skill or training. Advantage Capital itself is not registered as an investment adviser with the SEC. Any advisory services described in documents directly or indirectly disseminated by Advantage Capital are provided exclusively by ACIA. The information contained herein is for informational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Any offer to sell or solicitation of an offer to purchase any security or investment product will be made in compliance with applicable state and federal securities laws pursuant to a definitive confidential offering memorandum and/or similar documentation. Advantage Capital is an equal opportunity provider.
The individual case studies represent a small sample of investments that were selected to illustrate their community impact under state and federal tax credit programs. The profitability of any single investment was not a factor in the selection process. Nothing in this document should be interpreted or construed as performance data of any kind, nor as any implication or statement that investments previously made by Advantage Capital were or are successful, or that past performance is any indication of future performance. All investments involve risk and unless otherwise stated, are not guaranteed.
