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J&H Graphic Screen Printing, Inc.

ID: ED 2151201
Inner City Economic Development Loan
County Comission District: 10 | City Council District: 6

Summary

Jessie Horton, Jr., owner ofJ & H Graphic Screen Printing, is seeking an Inner City Economic Development (ICED) Loan to help fund HVAC installation, roof repairs and weather sealing, shop lighting, fencing and signage. Total Project costs are $31,966.

J & H Graphic Screen Printing was forced to relocate following the sale of the building the company rented for 14 years.The company purchased their new location and now needs to complete improvements to the property. J & H prints and packages t-shirts, caps and tote bags for businesses, school fundraisers and walk-in customers.

The loan will help the business retain 4 jobs and add 10 new employees as the operation ramps back up in the new 6,250 square foot location.

Staff recommends approval of an Inner City Economic Development Loan to J & H Graphic Screen Printing, Inc., not to exceed $21,310to be distributed as the owner completes significant portions of the project located at 2331 Elvis Presley Boulevard and an owner injection of$10,656 has been achieved and documented per the schedule below.

Loan Term:

3 years

Projected New Jobs:

10

Projected Retained Jobs:

4

Average Payroll:

Not applicable

Loan Amount:

$21,310

Loan Use:

Building Improvements

Total Projected Capital Investment:

Not applicable
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

12/2/2015

Closing

Not approved

J&H Graphic Screen Printing, Inc.

2331 Elvis Presley, Memphis, TN 38106