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Camy's Inc

ID: ED20150902
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