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April House Premier
ID: ED20160902
Inner City Economic Development Loan
County Comission District: 11 | City Council District: 3
Inner City Economic Development Loan
County Comission District: 11 | City Council District: 3
Summary
April House Premier and related companies is owned and operated by Ms. Paulette Sanford, a professional caterer since 1996. April House Premier applied for assistance to help with façade work, HVAC improvements, and landscaping along with plumbing and electrical upgrades to the 3,400 SF building located in Southeast Memphis*.Ms. Sanford is dedicated to providing healthy food that is convenient. She operates Top Tier Catering, The Southern Deli and a hotel/restaurant cook apprenticeship program. The apprenticeship program has three enrollees through a partnership with the Workforce Investment Network. The loan will help Ms. Sanford retain four jobs and hire four additional staff for catered events.
Previously, Ms. Sanford was approved for ICED loan funding through the EDGE Finance Committee. However, because of a traffic accident, the project was placed on hold for several months. Due to the down time, she was forced to change locations and the previous EDGE approval was terminated.
Loan Term:
3 years
Interest Rate:
0%
Projected New Jobs:
4
Projected Retained Jobs:
4
Average Payroll:
Not applicable
Loan Amount:
$8,255
Loan Use:
Building Improvements
Total Projected Capital Investment:
$18,132
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
9/7/2016
Closing
Not applicable
April House Premier
5650 Mt. Moriah, Memphis, TN 38115- Term Sheet
- Application
- Resolution