Summary

WAFILMS is a production company located at 526 Beale Street in Memphis that has experienced at least 1 25% drop in revenue as a result of COVID-19. Closure has displaced 10 Independent Contractors. The company had 5 contracts cancel in March totaling $131,000 loss of revenue.-Applicant is using savings to pay business expenses.
Stabilization and Recovery Plan:
• Applicant’s immediate plan is to re-tool workflows and methods for existing clients by offering virtual on-line experiences for product launches
• They will implement new marketing strategy to include leasing studio space to companies/entrepreneurs in need of workspace
NEED Grant funds will be used for rent, utilities, and software needed for new virtual product launch offerings.

Financing Amount:

$7,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

5/8/2020

WAFilms

526 Beale Street, Memphis, TN 38103