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The Art Project

Summary

The Art Project is a children’s art studio located at 2092 Trimble Place in Memphis that has experienced at least a 25% drop in revenue as a result of COVID-19. The applicant furloughed 1 FTE & 7 PTE. The applicant was forced to cancel numerous reservations and key events resulting in $57,000 profit loss. The business is unable to access supplies as suppliers have closed warehouses.
Stabilization and Recovery Plan:
• PPP funds of $22,800 & $8,000 EIDL
• Implemented new services & product offerings
• Increase in Social Media/Blog Content
NEED Grant funds will be used to assist with materials, supplies, and packaging needed to provide new services.

Financing Amount:

$7,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

6/12/2020

The Art Project

2092 Trimble Place, Memphis, TN 38104