Enoble Capital "committed" to Memphis with expansion
December 23, 2014
Memphis Business Journal
After 20 years in business, Enoble Business Capital is gearing up for a big 2015, and an even bigger 2016.
The company, previously known as National Bankers Trust, is close to completing a $10 million renovation on a 52,000-square-foot building at 813 Ridge Lake Blvd. that will become the company's headquarters in April.
The building, which was previously the headquarters for American Snuff Co., has been "stripped down to concrete and studs," by Grinder Taber Grinder Inc., the general contractor, and was designed by The Crump Firm.
When it moves into the new office, where it will immediately occupy three of the four floors, the company will begin hiring new employees. Enoble Capital currently employs 70 people and has hired 15 people in the last 18 months.
Jeffrey Rose, the company's COO and CFO, said Enoble expects to hire 30 people in the next two years.
"Just by moving in, we'll hire 12 people," Rose said. "The first three floors will be in use from day one, but the fourth floor will be for expansion when we need it."
Enoble Capital actually outgrew the 20,000 square feet of office space it occupies on Players Club Parkway two years ago, and acquired the new building in 2013. It received a payment-in-lieu-of-taxes benefit for the project in 2013.
Dudley Boyd, president and CEO of Enoble, said the company, which specializes in providing financing for small businesses that sell products to other businesses, has seen its sales grow from word-of-mouth by its long-time clients. Those clients, Boyd said, are responsible for around 60 percent of the leads the company generates. Once Enoble moves into the new building, it will also welcome other companies and organizations to use the facilities for events.
"We want to throw our doors open to all of the incubators and accelerators," Boyd said. "Anyone who is interested in building Memphis and making the city more successful, this can be an epicenter for a lot of thinking and sharing."
Rose said the company's rebranding and growth could be seen as small, locally grown businesses helping to grow the economy.
"In order to do quality things, you have to invest the money," Rose said. "We're making a commitment to Memphis and the Mid-South, and there's no better way to show your commitment than to back it up with money."