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Fashion Gang

Summary

Fashion Gang is a clothing retailer located at 6135 Mt. Moriah Road Extended, Suite 102 in Memphis that has experienced at least a 25% drop in revenue as a result of COVID-19. The Applicant laid off 1 full time & 8 part-time employees, Capital is tied up in back-ordered inventory. The Applicant is 2 months behind on rent, utility, insurance, and other fixed operating costs
Stabilization and Recovery Plan:
• Revised website to drive Internet sales, announce re-opening plans and offer discounts
• Evaluating personal services opportunities to drive new revenue sources
• Applicant developing safety protocols for customers and staff
NEED Grant proceeds will be used to pay past due rent, utility, insurance, and other fixed operating costs.

Financing Amount:

$5,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

5/22/2020

Fashion Gang

6135 Mt Moriah Rd. Exe, Ste. 102 Memphis, TN 38115