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Sherrod Furniture Store Company

Summary

Sherrod Furniture Store Company is a retail furniture store located at 3666 N. Watkins Street that has experienced at least a 25% drop in revenue as a result of COVID-19. The business was operated under appointment only for three months, losing the historic busiest months of the year. They are three months behind on rent and had to lay off one employee while reducing hours for the remaining staff.
Stabilization and Recovery Plan:
• Reinstated normal operating days and hours July 20.
• Applied for SBA PPP and EIDL receiving $1,000 EIDL only
• Increasing social media and television advertising.
• Operating under Health Department guidelines to promote staff and customer safety.
NEED Grant proceeds will be used for rent and inventory.

Financing Amount:

$8,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

8/7/2020

Sherrod Furniture Store Company

3666 N. Watkins Street, Memphis, TN 38127