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AREA 51 ICE CREAM LLC 2

Summary

Area 51 Ice Cream LLC was originally awarded an EDGE NEED grant on 9/11/2020. An additional grant award of $5,000 was provided due to the effects of a subsequent Shelby County Health Department health directive placed on restaurants, bars and local grocery stores.

Area 51 Ice Cream LLC is an ice cream shop located in Crosstown Concourse that has experienced at least a 25% drop in revenue as a result of COVID-19. Sales began dropping at the beginning of outbreak, weeks before having to close. Sales are down more than 70% since reopening compared to same time last year. The business has also experienced supplier disruptions.
Stabilization and Recovery Plan:
• Re-opened with reduced employee hours and cut variable costs where possible
• Working with landlord on possible rent concessions moving forward
• Trying to reimagine customer experience under new social distancing guidelines
• Received$45,200 from PPP
The NEED Grant funds will be used to supplement rent payments and labor costs.

Financing Amount:

$5,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

2/12/2021

AREA 51 ICE CREAM LLC 2

1350 Concourse Avenue, Suite 168, Memphis, TN 38104