Truong Enterprises, Inc.

Truong Enterprises, Inc., a leading distributor of ethnic foods and produce located in Chicago, is a place where customers can find authentic produce, frozen foods, and grocery items from all over the world.

Investment

  • NMTC Amount: $9,310,000
  • Total Project Cost: $10,381,659

IMPACT

  • 14 FTE jobs
  • 45,000 sq. ft. of real estate

Investor

Project Description

Truong Enterprises, Inc., a leading distributor of ethnic foods and produce located in Chicago,is a place where customers can find authentic produce, frozen foods, and grocery items from all over the world. The company is currently a supplierto many of the ethnic supermarkets, fruit markets and convenience stores throughout the Midwest. Since its establishment in 2001, Truong Enterprises has grown and expanded beyond the capacity of its 45,000 sq. ft. leased warehouse facility.

Over the past several years, the company has had to rely on additional outside storage facilities, resulting in operating inefficiencies. In response to Truong’s need for expansion, Chase’s Community Development Banking originated a $2.8 million New Markets Tax Credit equity investment to finance the acquisition of property and construction of an 81,000 sq. ft. distribution facility located in an area of increased economic distress and high poverty. Chase also provided a $1.2 million bridge loan to support this transaction.

MAP

Address: 2300 South Halsted, Chicago, IL 60608

Census Tract: 17031843200

Other Illinois Projects

The project consists of the refinance of the Marquez School facility.
NMTC financing supported a heavy construction equipment rental company.
NMTC investment supports the Salvation Army Freedom Center Pathway Forward and Harbor Light Center.
The revitalization of downtown Rockford took another step forward with the rehabilitation of the indoor City Market at a vacant building in the 100 block of North Madison Street.