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Haven Representations, LLC dba Nubian Design
ID: ED20200802
Inner City Economic Development Loan
County Comission District: 9 | City Council District: 3, 8
Inner City Economic Development Loan
County Comission District: 9 | City Council District: 3, 8
Summary
A local entrepreneur is bringing a new salon to a Whitehaven neighborhood, helping to further its revitalization.James Cook plans to open Nubian Design at 1237 Marlin Road, just steps from other ICED Loan recipients Eggxactly Breakfast & Deli and Muggin’ Coffeehouse. The salon will provide space for six stylists in a professional salon setting. The location is uniquely situated and can attract both neighborhood residents and nearby business professionals.
Cook has a long resume that includes running several local Lenny’s restaurants and actor at Hattiloo Theater. Cook’s brother, Marcus Snipes, is an experienced barber who will manage the location.
The ICED Loan will help Cook to renovate the 2,074 square foot space originally built in 1954, add a roof update the parking lot and add ADA accessibility.
The project is supported by the Greater Whitehaven Economic Redevelopment Corporation.
Loan Term:
3 Years
Interest Rate:
0%
Projected New Jobs:
6
Projected Retained Jobs:
Not applicable
Average Payroll:
Not applicable
Loan Amount:
$16,000
Loan Use:
Not applicable
Total Projected Capital Investment:
$24,000
Real Property:
Not applicable
Acquisition:
Not applicable
Construction:
Not applicable
Renovation:
Not applicable
Machinery & Equipment:
Not applicable
Furniture, Fixtures, Office:
Not applicable
Equipment:
Not applicable
Fees & Soft Costs:
Not applicable
Permanent Working Capital:
Not applicable
Miscellaneous:
Not applicable
Approved
8/28/2020
Closing
Not applicable
Haven Representations, LLC dba Nubian Design
1237 Marlin Rd. , Memphis, TN 38116- Term Sheet
- Application
- Resolution