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Merchants on Broad

Summary

Merchants on Broad is a retail gift and home décor shop located at 2577 Broad Avenue un Memphis that has experienced at least a 25% drop in revenue as a result of COVID-19. The business was forced to close. Revenues from Consignment projects are zero due to shop closure. The business owner is paying debts from cash reserves.
Stabilization and Recovery Plan:
• Staying in touch with customers via social media accounts
• Developing custom work that can be created in house
• Worked out arrangements with suppliers
• Applied for PPP and EIDL
• Received a $28,000infusion from EIDL
NEED Grant funds will be used for marketing, inventory and utilities.

Financing Amount:

$4,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

6/12/2020

Merchants on Broad

2577 Broad Ave , Memphis, TN 38112