ICED Loans Remove Blight and Revitalize Neighborhoods Across Memphis
Since 2014, EDGE has provided $1.5 million in forgivable loans for small businesses leading to nearly $7 million in investment for inner-city neighborhoods.
Those loans have helped small business owners improve their businesses and make a tremendous impact on their neighborhoods in terms of improving blight, revitalizing areas and inspiring more investment. These are just a few of the transformations happening throughout our city. (Click on the project name for more information on each)
Morris Wilder received a $25,000 ICED Loan to help transform a long vacant CK’s Coffee Shop near the intersection of Shelby Drive and Millbranch into Success Barber College. Wilder is offering affordable hair services to the community and training students for a lucrative career.
Soulsville Market, owned by Ms. Hanan Hishe, was awarded a $20,000 ICED Loan to help with renovations to its building on East McLemore. Soulsville Market provides both customers from the neighborhood and visitors to the Stax Museum of American Soul Music with convenience items and fresh produce.
Qwality Quick Cleaners was awarded a $25,000 ICED Loan to help make renovations to its space on East McLemore. The loan allowed the dry-cleaning company to renovate its exterior lighting and make improvements to the facade that include a new sign and awning. Qwality Quick Cleaners has been in business for more than 20 years in South Memphis.
Wendell and Adrena Jackson were awarded a $20,000 ICED Loan to make renovations to this building on Marlin Road in Whitehaven for their restaurant, Eggxactly Breakfast & Deli. Eggxactly combines an eclectic, southern-style atmosphere with excellent customer service and delicious, homemade food. The space also doubles as a neighborhood meeting spot by offering an inviting and community-friendly atmosphere.
Jason Gardner was awarded a $14,500 ICED Loan to make renovations to 4637 Boeingshire in Whitehaven for his new restaurant, Trap Fusion. Trap Fusion is a new take on southern cuisine, using healthy, alternative ingredients. The target customer is the health-conscious diner looking for savory food in a friendly atmosphere.
Liz Kinnmark was awarded a $20,000 ICED Loan to help with renovations to a long-empty and dilapidated building near the corner of Lamar and Bellevue to house her business, Bendy Beast. Kinnmark will teach yoga, flexibility training, Pilates, pole fitness and dancing. She sees Bendy Beast as an inclusive space and a starting point for friendships, networking, inspiration and interdependence.