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Camy's Inc
ID: ED20150902
Inner City Economic Development Loan
County Comission District: | City Council District:
Inner City Economic Development Loan
County Comission District: | City Council District:
Summary
Camy Archer, dba Camy's Inc., was awarded a $25,000 Inner City Economic Development (ICED) Loan to help with façade and interior improvements at 2886 Walnut Grove.The ICED loan would complete a combined $60,000 investment into the Walnut Grove building.
The loan will help retain 16 jobs while creating seven new jobs and allow Camy’s, Inc., to make façade and interior improvements to the 796-square-foot building.
Camy’s has been open in Memphis since 1992, delivering pizza, sandwiches, pasta, chicken, and desserts. The restaurant serves customers in the Medical District, Downtown, Vollintine Evergreen neighborhood, and college students at Christian Brothers University and Rhodes College. The loan would expand Ms. Archer’s clientele to points east into the University of Memphis area, Binghampton, Chickasaw Gardens and more.
Loan Term:
3
Interest Rate:
Not applicable
Projected New Jobs:
7
Projected Retained Jobs:
16
Average Payroll:
Not applicable
Loan Amount:
$25,000
Loan Use:
Facade and Interior Improvements
Total Projected Capital Investment:
$60,000
Real Property:
Not applicable
Acquisition:
Not applicable
Construction:
$20,000
Renovation:
$35,000
Machinery & Equipment:
Not applicable
Furniture, Fixtures, Office:
$5,000
Equipment:
Not applicable
Fees & Soft Costs:
Not applicable
Permanent Working Capital:
Not applicable
Miscellaneous:
Not applicable

Approved
9/2/2015
Closing
10/26/2016
Camy's Inc
2886 Walnut Grove, Memphis , TN 38111- Term Sheet
- Application
- Resolution