Summary

On the Spot Cuts & Styles is a barbershop located at 3147 Frayser Raleigh Road in Memphis that has experienced at least a 25% drop in revenue as a result of the COVID-19 pandemic. The business had to be closed as a non-essential business in March. Nine individuals are out of work. Monthly fixed expenses during shutdown of approximately $3,000.
Stabilization and Recovery Plan:
• Applicant has developed new operating plan to adhere to spacing and personal distancing requirements
• 90-day recovery budget was submitted with realistic assumptions
Grant funds will be used to pay mortgage, taxes, utilities and other fixed costs.

Financing Amount:

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