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EGGXACTLY BREAKFAST & DELI 2

Summary

Eggxactly Breakfast and Deli was originally awarded an EDGE NEED grant on 5/8/2020. An additional grant award of $5,000 was provided due to the effects of a subsequent Shelby County Health Department health directive placed on restaurants, bars and local grocery stores.

Eggxactly Breakfast and Deli is a restaurant located at 1248 Marlin Road in Memphis that has experienced at least a 25% drop in revenue as a result of COVID-19.

Since the beginning of COVID the owners have seen an 81% reduction in revenue and furloughed 3 employees. To reduce overhead, they've moved remaining employees to 18 hours per week.

The owners were forced to reduce operating hours by 50% and serving only to-go orders 3 days/week. Owners are also contributing $2,000/month in personal funds to cover revenue shortfalls.

Stabilization and Recovery Plan:
• Will rehire furloughed staff and increase operating hours as COVID-19 restrictions are lessened
• Implement cleaning and sanitation protocols as directed by Department of Health
• Increase marketing through social media and news outlets

NEED Grant proceeds will be used to pay loan debt, property taxes, utilities, insurance and other outstanding obligations.

Financing Amount:

$5,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

2/12/2021

EGGXACTLY BREAKFAST & DELI 2

1248 Marlin Rd, Memphis, TN 38116