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Hair Rhapsody

Summary

Hair Rhapsody is a salon located at 5489 Winchester, Suite 3 that has experienced at least a 25% drop in revenue as a result of COVID-19. The Applicant and 1 independent contractor out of work. Applicant incurs nearly $1,700in monthly fixed operating costs. Creditors unwilling to extend terms, restructure debt or waive late fees
Stabilization and Recovery Plan:
• Applicant developing safety protocols for staff and clients
• Increase digital exposure through website redesign and promotional offerings for new and existing customers
• Increase retail inventory to drive additional sales revenue
NEED Grant funds used to pay all late bills and debt, purchase PPE supplies for staff and clientele and updating and redesign of website.

Financing Amount:

$5,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

5/8/2020

Hair Rhapsody

5489 Winchester, Suite 3 Memphis, TN 38115