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Precious Memories by Shawn, Inc.

Summary

Precious Memories by Shawn, Inc. is a promotional products distributor located at 4444 Delp Street in Memphis that has experienced at least a 25% drop in revenue as a result of the COVID-19 pandemic. March revenue started very strong with more than $8,500 in sales but then almost stopped completely by the third week. Reduced hours for one full time and one part time employees by half and delayed employment of an intern. Primary contracts are with government agencies that have frozen spending. Other customers are unable to take delivery of products or pay for services already completed
Stabilization and Recovery Plan:
• Actively communicating with both suppliers and customers
• Shifted product offerings to COVID-19 related needs (hand sanitizer and antibacterial wipes)
• Planning for relaunch when market rebounds.
NEED Grant funds will be used for payroll, taxes and satisfying vendors.

Financing Amount:

$5,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

5/1/2020

Precious Memories by Shawn, Inc.

4444 Delp Street, Memphis , TN 38118