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Euro Imports of Memphis

ID: ED20150802
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:

2

Projected Retained Jobs:

5

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

Euro Imports of Memphis

2699 Broad Avenue, Memphis, TN 38112