‹ Back To Loans

Pollard's Bar-B-Que

ID: ED20220801
Inner City Economic Development Loan
County Comission District: | City Council District:

Summary

Tarrance Pollard dba Pollard’s Bar-B-Que was awarded a $25,000 Inner City Economic Development (ICED) Loan to help complete $37,500 of qualified improvements at 4560 Elvis Presley Blvd.

Mr. Pollard has more than 20 years of experience in the culinary industry. Pollard’s Bar-B-Que is a family-run, veteran and minority-owned small business located on the bustling Elvis Presley Blvd. Pollard’s started as a mobile restaurant business in 1995. As the demand for Pollard’s unique southern style of Memphis BBQ grew, Mr. Pollard opened his first brick and mortar location in 1996, as a small carry-out catering business located at the intersection of Shelby Drive and Boeingshire where it remained for the next 10 years.

In 2011, Mr. Pollard answered the overwhelming demands of its growing customer base by
moving to the Elvis Presley Strip and becoming a dine-in restaurant. With this new expansion came bigger and better things, such as an expanded menu and an upscale renovation by Food Network’s own chef, Robert Irvine, from Restaurant Impossible. With this newly discovered secret, Pollard’s has been transformed into a major neighborhood hub for everyone in the Whitehaven area.

The ICED Loan will help Mr. Pollard make improvements to the 1,376 square foot space. Exterior improvements include enhancing the streetscape appeal of the property to make the area more attractive and inviting. Mr. Pollard plans to expand the customer capacity for patronage and availability to accommodate events and provide an inviting ambiance that will draw customers.

The ICED Loan is projected to incentivize a 20% growth in business amd supported by the Greater Whitehaven Economic Redevelopment Corporation.

Loan Term:

3

Interest Rate:

Not applicable

Projected New Jobs:

Not applicable

Projected Retained Jobs:

5

Average Payroll:

Not applicable

Loan Amount:

$25,000

Loan Use:

Facade Improvements

Total Projected Capital Investment:

$37,500
Real Property:
$32,300

Acquisition:
Not applicable

Construction:
Not applicable

Renovation:
Not applicable

Machinery & Equipment:
Not applicable

Furniture, Fixtures, Office:
Not applicable

Equipment:
Not applicable

Fees & Soft Costs:
$3,700

Permanent Working Capital:
Not applicable

Miscellaneous:
$1,500

Approved

8/17/2022

Closing

Not applicable

Pollard's Bar-B-Que

4560 Elvis Presley Blvd, Memphis, TN 38116