Smart Furniture

Smart Furniture, Inc. is a Chattanooga, Tennessee based furniture company that sells customizable home and office furniture through its Design on Demand platform via www.SmartFurniture.com.

Investment

  • NMTC Amount: $1,040,192
  • Total Project Cost: $12,314,547

IMPACT

  • 29 FTE jobs

Investor

Project Description

Smart Furniture, Inc. is a Chattanooga, Tennessee based furniture company that sells customizable home and office furniture through its Design on Demand platform via www.SmartFurniture. Com. In addition to its patented Smart Shelves product line, the Company has partnered with leading furniture manufacturers to provide customers with the ability to customize furniture that is uniquely suited to their needs and preferences. Smart Furniture sells its products almost exclusively via the Internet, but it has one flagship store, the Smart Furniture Studio, located in an economically distressed neighborhood in downtown Chattanooga.

In 2004, when the company was starting up, its owner and sole employee was ooking for investment capital that would to take the company to the next level. As a small start-up it was difficult to secure financing from conventional banks or venture capital funds. Impressed by Smart Furniture’s owner and his innovative approach for selling and marketing furniture, Southern Appalachian Fund – a Community Development Entity affiliated with Kentucky Highland Investment Corporation – made a $170,000 NMTC investment in the company.

This NMTC investment provided the company the capital needed to move ahead with product development and design, executive recruitment, market research and marketing, and website design.

MAP

Address: 313 Manufacturerers Road #107, Chattanooga, TN 37405

Census Tract: 47065000800

PDF Profile

Other Tennessee Projects

A $14,000,000 New Markets Tax Credit (“NMTC”) investment supported Memphis Union Mission’s (“MUM”) The Opportunity Center, Phase 2 on March 14, 2022. Located at 383 Poplar Avenue in Memphis, Tennessee,

McNeilus Steel Inc. will utilize NMTC allocation to finance equipment and working capital for a steel processing and distribution facility located in Morrison, TN.

Universal Health Services, Inc. used NMTC financing to construct a 120‐bed trauma‐based residential treatment facility which will replace the current Mountain Youth Academy facility in the underserved community of Mountain

Funds the work of 21 Habitat for Humanity affiliates nationwide. Will result in the construction of 503 single-family homes for purchase by low-income individuals. Affiliates located in AZ, CA, CO,