‹ Back To Loans

Haven Representations, LLC dba Nubian Design

ID: ED20200802
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 approved

Haven Representations, LLC dba Nubian Design

1237 Marlin Rd. , Memphis, TN 38116