Summary

Suds, LLC is a laundry company located at 664 Waring Road in Memphis that has experienced at least a 25% drop in revenue as a result of COVID-19. The company Completed major renovation and launched advertising campaign last year which proved to dramatically increase business ($25,000 in March) before COVID-19. Dry cleaning dropped from $2,500 a month to zero. Suppliers closed. Coin-op business dropped 48% between March and April.
Stabilization and Recovery Plan:
• Committed to maintaining staffing levels (1 full-time and 6 part-time) as quality service is a company hallmark
• Started a Laundry Assistance Fund to pay for 100 families in need (covered more than 600 loads of laundry)
• Launching new advertising plan
• Received $8,644 EIDL and $5,000 PPP
NEED Grant funds will supplement fixed costs of $12,000 per month including lease, utilities and payroll.

Financing Amount:

$4,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

5/22/2020

Suds LLC

664 Waring , Memphis, TN 38122