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Classy Styles

Summary

Classy Styles is a full service salon located at 2552 Poplar Avenue is Memphis that has experienced at least a 25% drop in revenue as a result of COVID-19. The business closed for two and a half months due to the COVID-19 pandemic. Three independent contractors were left without the ability to earn an income. Only one returned after the shop’s reopening. Supplies were on back order until late July.
Stabilization and Recovery Plan:
• Landlord allowed a payment arrangement for the remainder of the year
• Providing PPE and mandatory temperature checks
• Exploring new ways to re-invent her business
• Received a $9,889infusion from PPP
NEED Grant funds will be used for salaries, rent and restocking PPE.

Financing Amount:

$5,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

9/11/2020

Classy Styles

2552 Poplar Avenue, Suite 105 Memphis, TN 38112