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Smyrtles Management dba Midtown Mirror Beauty
Summary
Smyrtles Management is a beauty salon and barber located at 16 South Cleveland in Memphis that has experienced at least a 25% drop in revenue as a result of COVID-19. The business was forced to close based on close contact with customers. It has fallen behind on $2,775 of monthly fixed costs including rent, utilities and supplies. Five full-time employees unable to work while closed.Stabilization and Recovery Plan:
• Applied for PPP
• Implemented safety precautions for re-opening
• Staying connected to customers about re-opening schedule and protocols
NEED Grant funds will be used to offset past losses and supplement rent and utilities moving forward
Financing Amount:
$5,000
Projected Total Jobs:
Not applicable
Total Investment:
Not applicable
Approved
6/5/2020