Urban League is Helping take Chattanooga Area Businesses to the 'Next Level'
Three years ago, Darian Paris decided to focus his residential and commercial construction business on building affordable new homes to help meet the growing need for such housing for many low- and moderate-income Chattanoogans.
"I've been funding my projects out of pocket because I felt the need to address this issue, but I was able to build the next home only as I sold the last home I built," he said.
Paris has managed to build new 1,200-square-foot homes priced under $200,000 and the houses typically sell in the current market within two or three days. But like most minority-owned small business owners, Paris didn't get bank loans for his business even though homebuilding is a capital-intensive business that usually doesn't pay off until the house is built and sold.
"The lack of access to capital definitely limited my ability to grow," said Paris, who built three houses amid the pandemic in 2020.
