‹ Back To Loans

NH Owens & Sons Funeral Home

ID: ED20171202
Inner City Economic Development Loan
County Comission District: 07 | City Council District: 05

Summary

Cheryl L. Owens, dba N.H. Owens & Son Funeral Home, was awarded an $18,000 Inner City Economic Development (ICED) Loan to help improve the exterior appearance, weatherproof entrances and improve disabled accessibility at 421 Scott Street. Total qualified project costs are estimated to be $30,951.

Ms. Owens is owner and a licensed funeral director. She is assisted by Ron Taylor, operations manager and a twelve-person staff. Ms. Owens believes this project will create one new full-time position and three new part-time positions. As the Granddaughter of the founder, Ms. Owens is committed to both this business and the neighborhood.

N.H. Owens & Son Funeral Home opened at this location in 1912. It has always been family owned and on Scott Street.

The loan will help Ms. Owens repair the 3,388 square foot building constructed in 1937. A rear entrance will be replaced and weatherproofed. Handicap accessibility will be improved at the main entrance from Scott Street. The exterior will be painted and siding will be installed above the overhang. A drop-off canopy will be constructed and awnings with the business name and logo will be installed. This project is supported by the Binghampton Development Corporation.

Loan Term:

3

Interest Rate:

Not applicable

Projected New Jobs:

4

Projected Retained Jobs:

14

Average Payroll:

Not applicable

Loan Amount:

$18,000

Loan Use:

Not applicable

Total Projected Capital Investment:

$30,951
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

12/6/2017

Closing

8/8/2018

NH Owens & Sons Funeral Home

421 Scott Street, Memphis, TN 38112