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Summitt Management Corporation

Summary

Summitt Management Corporation is an entertainment, sports and event production business, best known for hosting the Southern Heritage Classic each year (which drives more than $14 million in direct spending each year) located at 4466 Elvis Presley, Suite 248, that has experienced at least a 25% drop in revenue as a result of COVID-19. The business was forced to cancel all shows and events, all contracts have been voided or postponed, and all savings have been exhausted.
Stabilization and Recovery Plan:
• Cancelled contracts for advertising, talent, venues and other event production costs.
• Pursuing line of credit from lenders.
• Communicating with event sponsors to secure future funding.
• Received $44,100 from PPP
NEED Grant funds will be used to supplement fixed operating costs and offset losses associated with event cancellations.

Financing Amount:

$20,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

7/24/2020

Summitt Management Corporation

4466 Elvis Presley, Suite 248 Memphis, TN 38116