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Soulsville Market

ID: ED20170901
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