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Soulsville Market
ID: ED20170901
Inner City Economic Development Loan
County Comission District: 08 | City Council District: 06
Inner City Economic Development Loan
County Comission District: 08 | City Council District: 06
Summary
Soulsville Market is owned and operated by Ms. Hanan Hishe. Soulsville Market applied for assistance to help with façade repair, HVAC and roof repair, and interior improvements. Soulsville Market, formerly known as In & Out Market, plans to target both customers from the neighborhood and visitors to the Stax Museum of American Soul Music. The market will stock convenience items and fresh produce. Total qualified project costs are estimated to be $36,992. Soulsville Market was approved for a $20,000 ICED Loan.“We wanted to invest in this neighborhood,” said Soulsville Market owner Ms. Hishe. “We knew the previous owners and wanted to continue the market’s legacy in the neighborhood by providing fresh produce and prepared, hot meals.”
Loan Term:
3
Interest Rate:
0%
Projected New Jobs:
4
Projected Retained Jobs:
Not applicable
Average Payroll:
Not applicable
Loan Amount:
$20,000
Loan Use:
Not applicable
Total Projected Capital Investment:
$36,992
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
9/6/2017
Closing
4/10/2019
Soulsville Market
745 East McLemore, Memphis, TN 38106- Term Sheet
- Application
- Resolution