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The Rio Beauty Spa

Summary

The Rio Beauty Spa is a hair stylist and beauty spa located at 3541 Riverdale in Memphis that has experienced at least a 25% drop in revenue as a result of COVID-19. The company was forced to close in late March. 8 employees laid off. Rent and other fixed costs remain due with no revenue coming in.
Stabilization and Recovery Plan:
• Making plans to rebuild clientele
• Planning to adhere to health and safety protocols for this industry
• Employees are returning mid-May
NEED Grant funds will be used supplement fixed costs totaling $4,200 per month (excluding payroll and supplies).

Financing Amount:

$5,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

6/5/2020

The Rio Beauty Spa

3541 Riverdale, Suite 103 Memphis, TN 38125