EDGE Finance Committee unanimously approved a $22,000 Inner City Economic Development (ICED) Loan for S2F Performance Lab, a health and fitness program specializing in class-based training for amateur endurance athletes.
ICED Loan Program’s purpose is to spark the revitalization of Memphis inner-city neighborhood business districts through small forgivable loans used to assist with building improvements and business expansion.
“We’re pleased to see continued interest in the EDGE ICED Loan program, a vital tool to help small businesses fulfill their dreams while mitigating blight and invigorating neighborhoods,” said John Lawrence, EDGE Senior Economic Development Specialist.
Scott Street, LLC, dba S2F Performance Lab (678 Scott Street): S2F Performance Lab is owned and operated by Mr. Brent Barrett and Mr. Robert Fromin. The organization’s goal is to provide a comprehensive training resource center and work with athletes, and adventurers on specific skill acquisition, performance improvement, and general physical preparation. Located in The Heights neighborhood on Scott Street, the business currently boasts 70 members but expects to surpass 200 members within the next year. S2F Performance Lab applied for assistance to help restore the 9,380 square foot building, update the building’s façade, install two roll-up doors at the former loading dock, and update exterior lighting. The project is supported by The Heights CDC (www.heightscdc.org). Total qualified project costs are estimated to be $56,586.
“It’s always an exciting day when we can celebrate a company’s commitment to investing in areas like The Heights and we are proud to partner with S2F Performance Lab to support growth within these communities,” said Natasha Donerson, EDGE Economic Development Finance Committee Chairwoman.