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On the Spot Cuts and Styles

ID: ED 20160503
Inner City Economic Development Loan
County Comission District: 6 | City Council District: 1


Jamal Arnold, dba On The Spot Cuts & Styles, is seeking a $25,000 Inner City Economic Development (ICED) Loan to help fund façade improvements, interior renovations, and resurfacing of the parking lot at 3147 Frayser Boulevard. Total project costs are estimated to be $39,674.

Mr. Arnold is a Master Barber. He grew up in Frayser and graduated from Trezevant High School. He has owned three different businesses in the community and has been cutting hair for 14 years.

On The Spot Cuts & Styles is open from 8:30 am to 6:30 pm Tuesday through Thursday and from 6:00 am to 6:00 pm on Friday and Saturday. Mr. Arnold leases the neighboring space to a complimentary use, Magic Styles Beauty Salon.

The loan will help complete renovations to the 2,500 square foot building, as well as assist Mr. Arnold in retaining six jobs and hiring five new employees.

Staff recommends approval of an Inner City Economic Development Loan to Jamal Arnold, dba On The Spot Cuts & Styles, not to exceed $25,000 to be distributed as the owner completes significant portions of the project located at 3147 Frayser Boulevard.

Loan Term:


Interest Rate:

Not applicable

Projected New Jobs:


Projected Retained Jobs:


Average Payroll:

Not applicable

Loan Amount:


Loan Use:

Building Improvements

Total Projected Capital Investment:

Real Property:
Not applicable

Not applicable

Not applicable

Not applicable

Machinery & Equipment:
Not applicable

Furniture, Fixtures, Office:
Not applicable

Not applicable

Fees & Soft Costs:
Not applicable

Permanent Working Capital:
Not applicable

Not applicable




Not approved

On the Spot Cuts and Styles

3147 Frayser Boulevard, Mempis, TN 38128