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Euro Imports of Memphis
ID: ED20150802
Inner City Economic Development Loan
County Comission District: | City Council District:
Inner City Economic Development Loan
County Comission District: | City Council District:
Summary
Livingston Wilson, dba Euro Imports of Memphis, is seeking a $25,000 Inner City Economic Development (ICED) loan to help with facade and interior improvements at 2699 Broad Avenue.The ICED loan will complete a combined $37,500 investment into the Broad Avenue building.
The loan is projected to create one full-time job and one part-time job and allow Euro Imports to make facade and interior improvements to the 6,000 sq. ft. building.
Euro Imports of Memphis serves customers in West Tennessee, North Mississippi, and Easter Arkansas, and the loan will expand Mr. Wilson's clientele into the neighborhood based on improvements made to the building.
Loan Term:
3 years
Interest Rate:
0%
Projected New Jobs:
1
Projected Retained Jobs:
Not applicable
Average Payroll:
Not applicable
Loan Amount:
$25,000
Loan Use:
Facade and Interior Improvements
Total Projected Capital Investment:
$37,500
Real Property:
Not applicable
Acquisition:
Not applicable
Construction:
Not applicable
Renovation:
$35,930
Machinery & Equipment:
Not applicable
Furniture, Fixtures, Office:
$1,570
Equipment:
Not applicable
Fees & Soft Costs:
Not applicable
Permanent Working Capital:
Not applicable
Miscellaneous:
Not applicable
Approved
8/10/2015
Closing
12/6/2017