The Inner City Economic Development (ICED) Loan program is designed to spark revitalization of Memphis inner city neighborhood business districts through small forgivable loans (up to $25,000). 

  • ICED loan funds are primarily for building fac╠žade improvements and streetscape improvements.
  • Interior improvements and building expansions may also be eligible.
  • Funding for the ICED loan program is generated through special City of Memphis and Shelby County Payment-In-Lieu-of- Tax (PILOT) personal property fees.
  • Projects are approved by the EDGE Economic Development Finance Committee

Since 2014, the ICED Loan program has assisted projects that have invested nearly $7 million in Memphis's inner city neighborhoods. 

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Businesses and property owners that meet the following criteria may be eligible to apply for an ICED loan:

  • The building must be located in a New Markets Tax Credit eligible census tract.
  • City of Memphis and Shelby County property taxes must be current or an approved payment plan must be in place.
  • The applicant must have sufficient capital to fund one-third of approved construction costs and complete the entire project without impacting the business negatively.
  • Both building owners and tenants with a three-year lease are eligible.
  • Priority will be given to neighborhood serving businesses with transparent storefront windows facing the street.


  • An architect retained by EDGE is available to assist the applicant with elevations and budget estimates for presentation to the EDGE Finance Committee as part of the application review process.
  • The applicant will meet with the EDGE staff to review building and desired improvements.


The following business categories as defined in the Memphis and Shelby County Unified Development Code, are not eligible for forgivable loans under the ICED loan program.

  • Liquor and tobacco stores
  • Adult entertainment and product stores
  • Pawnshops, payday loan/title loan establishments
  • Mini-storage facilities
  • Auto dealerships


EDGE Inner City Economic Development (ICED) Loan

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