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Propcellar Vintage Rentals
ID: ED20141102
Inner City Economic Development Loan
County Comission District: | City Council District:
Inner City Economic Development Loan
County Comission District: | City Council District:
Summary
Karlee Hickman, dba Propcellar Vintage Rentals, is seeking a $25,000 Inner City Economic Development (ICED) Loan to help with facade and building improvements at 2585 Summer Avenue.The ICED loan would complete a combined $269,625 investment into the Summer Avenue building.
The loan is projected to create six new jobs and allow Propcellar to make facade and building improvements to the 10,000-square-foot building.
Propcellar Vintage Rentals specializes in the collection of antique specialty items that are desired by film producers and brides seeking a retro touch for their weddings.
Loan Term:
3 years
Interest Rate:
0%
Projected New Jobs:
6
Projected Retained Jobs:
1
Average Payroll:
Not applicable
Loan Amount:
$25,000
Loan Use:
Facade Improvement
Total Projected Capital Investment:
$269,625
Real Property:
$244,625
Acquisition:
Not applicable
Construction:
Not applicable
Renovation:
$25,000
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
11/5/2014
Closing
2/24/2015
Propcellar Vintage Rentals
2585 Summer Avenue, Memphis, TN 38112- Project Files
- Term Sheet
- Application
- Resolution