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Jim and Samella's

ID: ED 20150901
Inner City Economic Development Loan
County Comission District: | City Council District:

Summary

Talbert Fleming, dba Jim and Samella’s House, was awarded a $25,000 Inner City Economic Development (ICED) Loan to help with façade and interior improvements at 841 Bullington.

The ICED loan would complete a combined $61,000 investment into the Bullington building.

The loan will help retain three jobs while creating five new jobs and allow Jim and Samella’s House to make façade and interior improvements to the 1,036-square-foot building.

Jim and Samella’s House serves customers who live and work in the South Memphis area, and the loan would expand Mr. Fleming’s clientele to welcome customers from other neighborhoods based on improvements made to the building.

Loan Term:

3 years

Interest Rate:

0%

Projected New Jobs:

5

Projected Retained Jobs:

3

Average Payroll:

Not applicable

Loan Amount:

$25,000

Loan Use:

Facade and Interior Improvements

Total Projected Capital Investment:

$61,000
Real Property:
Not applicable

Acquisition:
Not applicable

Construction:
$12,000

Renovation:
$33,000

Machinery & Equipment:
Not applicable

Furniture, Fixtures, Office:
$16,000

Equipment:
Not applicable

Fees & Soft Costs:
Not applicable

Permanent Working Capital:
Not applicable

Miscellaneous:
Not applicable

Approved

9/2/2015

Closing

Not approved

Jim and Samella's

841 Bullington Avenue, Memphis , TN 38106