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Delta Groove Yoga

Summary

Delta Groove Yoga is a yoga studio and gift boutique located at 2091 Madison in Memphis that has experienced at least 25% drop in revenue as a result of COVID-19. The company’s store-front closed to all foot traffic. The business did remain open offering live streaming yoga classes. Many members have cancelled their memberships. The company was past due with 2 wholesale vendors.
• Stabilization and Recovery Plan:
Landlord deferred rent for April and May
• Allowing 6 months to pay back
• Begin offering On Demand Yoga classes for purchase
• Employ a cleaning crew regularly to clan the facility
• Applied for PPP, Received a $27,800infusionfrom PPP
NEED Grant funds will be used for rent and salaries.

Financing Amount:

$6,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

6/5/2020

Delta Groove Yoga

2091 Madison Ave. , Memphis, TN 38104