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B.G. Brooks Enterprises

ID: ED 20140803
Inner City Economic Development Loan
County Comission District: | City Council District:

Summary

B. G. Brooks Enterprises was awarded a $20,000 Inner City Economic Development (ICED) Loan to help make interior and facade improvements to its shopping center at 995 Mississippi Boulevard.

The ICED Loan would complete a combined $32,000 investment at the 3,000 square-foot building.

The forgivable loan would allow B. G. Enterprises to make interior and facade renovations that include new windows, paint and lighting improvements.

B. G. Enterprises will lease the location to three new tenants creating 10 new jobs.

Occupying the building will be a barber and beauty school, a computer repair shop and a retail storefront.

Loan Term:

3 years

Projected New Jobs:

10

Projected Retained Jobs:

Not applicable

Average Payroll:

Not applicable

Loan Amount:

$20,000

Loan Use:

Facade Improvement

Total Projected Capital Investment:

$32,000
Real Property:
Not applicable

Acquisition:
Not applicable

Construction:
Not applicable

Renovation:
$20,000

Machinery & Equipment:
Not applicable

Furniture, Fixtures, Office:
Not applicable

Equipment:
Not applicable

Fees & Soft Costs:
Not applicable

Permanent Working Capital:
Not applicable

Miscellaneous:
$12,000

Approved

8/6/2014

Closing

Not approved

B.G. Brooks Enterprises

995 Mississippi Boulevard, Memphis, TN 38126