‹ Back To Others

Gloria’s Bridal & Formal LLC

Summary

Gloria’s Bridal & Formal is a bridal and formal retail shop that has seen at least a 25% drop in revenue as a result of COVID-19. The business was closed for two months due to the pandemic. Upon reopening, one employee chose not to return. There has been significant revenue loss during their most profitable season. The business owner is paying overhead expenses from savings.

Stabilization and Recovery Plan:
• Landlord offered 1month of rent relief
• Continued posting on all social media outlets
• Received $6,300 infusion from PPP, 3,000 infusion from EIDL, and a $5,000 SBS grant from the City of Memphis
The NEED Grant funds will be used for rent, salaries, and restocking PPE.

Financing Amount:

$5,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

1/6/2021

Gloria’s Bridal & Formal LLC

3092 Poplar Avenue. , Suite 1 Memphis, TN 38111