Ampro IndustriesMemphis, Tennessee
HRV joined Truist Community Capital to finance the expansion of a multicultural beauty product manufacturing facility operated by Ampro Industries, a company that for more than sixty years has developed and marketed quality hair care and beauty supplies designed for African Americans.
Ampro Industries is a critical community asset located in a severely distressed neighborhood, Forest-Frayser, in northwest Memphis, Tennessee. The total investment of $10.7 million provided for construction, equipment and working capital to allow the facility to meet increased demand for the Sponsor’s products. Ampro’s expansion will create 25 new full-time jobs, in addition retaining its 59 current employees.