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Broad Strokes, LLC dba Bingham & Broad

Summary

Broad Strokes, LLC dba Bingham & Broad is a local art and gift retail shop located at 2563 Broad Avenue in Memphis that has experienced at least a 25% drop in revenue as a result of COVID-19. The company’s storefront closed to all foot traffic. It has been operating online via social media platforms. The company reduced staff from 3part time employees to 1. Owners are not taking a salary during this time. Seasonal inventory must be sold at a deep discount.
Stabilization and Recovery Plan:
• Will provide PPE to employees and sanitizing stations for customers
• Would like to expand their eCommerce via a web-based system
• Applied for both PPP and EIDL
• Received a $15,500 infusion from PPP and $1,000 from EIDL
NEED Grant funds will be used to ramp up online operations, add checkout barriers, and rent expenses.

Financing Amount:

$5,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

5/29/2020

Broad Strokes, LLC dba Bingham & Broad

2563 Broad Ave. , Memphis, TN 38112