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G's Wings, Fish, Burgers & More
ID: ED20151204
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
Demetris Griffin, dba G’s Wings, Fish, Burgers & More, is seeking a $25,000 Inner City Economic Development (ICED) Loan to help fund new flooring in the dining room, renovations to the serving area, kitchen equipmentandheating-ventilation-air-conditioning upgrades.Costs for this phase of the project are estimated to be $26,616. Total project costs are estimated to be $38,533.This family-run restaurant currently serves surrounding neighborhoods and warehouse employees. After 18-months in business, the Griffin’s need to upgrade equipment to speed service. The owners also have a desire to improve the atmosphere for customers and kitchen conditions for staff.
The loan will help retain three jobs and allow G’s Wings, Fish, Burgers & Moreto make critical improvements to the 1,200 square-foot space.
Staff recommends approval of an Inner City Economic Development Loan to Demitris Griffin, dba G’s Wings, Fish, Burgers & More, not to exceed $25,000to be distributed as the owner completes significant phase-two portions of the project located at 4635 Tchulahoma per the proposed sources and uses schedule attached.
Loan Term:
3
Interest Rate:
0%
Projected New Jobs:
Not applicable
Projected Retained Jobs:
3
Average Payroll:
Not applicable
Loan Amount:
$25,000
Loan Use:
Building Improvement
Total Projected Capital Investment:
$38,533
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
12/2/2015
Closing
3/3/2016
G's Wings, Fish, Burgers & More
4635 Tuchulahoma, Memphis, TN 38118- Project Files
- Term Sheet
- Application
- Resolution