EDGE Economic Development Finance Committee "Keeps the Dream Alive" for 10 More Local Businesses Affected by COVID-19
MEMPHIS, Tenn. (May 8, 2020) – After weeks of uncertainty and fear, several Memphis businesses have some relief and a renewed spirit after they were approved for an EDGE NEED Grant.
In the words of Simply Fabulous owner, Fabiola Francis (pictured right) who was approved last week, the NEED Grant helped her to "keep the dream alive."
Today, the EDGE Economic Development Finance Committee approved the second round of NEED Grant applicants, providing relief for 10 inner city businesses. This round of applicants included barbershops, restaurants, a lawn care business, and a record store among others.
Eggxactly Breakfast & Deli is one of those businesses. The restaurant opened its doors to a bit of fanfare in October of last year. The restaurant had just hit its stride and was experiencing growth. But with COVID-19, that all came to a halt.
The Jacksons have been forced to furlough half of their staff and decrease the restaurant’s hours of operation from six to three days a week, only serving to-go orders.
“We are determined to stay in business and keep fighting the good fight,” said owner, Wendell Jackson. “Our number one priority is ensuring the safety of our staff and customers. This grant will help us rehire our employees, pay our bills and get customers back in here when we reopen.”
In all, the committee provided $59,000 in funds Friday to businesses that are spread throughout eight zip codes in Memphis - from Binghampton, to Frayser, to Whitehaven. You can learn more about each business by clicking below:
- T Clifton Art Gallery
- Ray Rico Freelance, LLC
- Eggxactly Breakfast and Deli
- Hair Rhapsody
- Vann Cut
- A Cut Above Lawn Service Corp.
- B. Chanel Salon
- Goner Records
- The Choo
To date, EDGE has approved $121,500 in NEED Grants for 21 businesses that are vital to the lifeblood of their neighborhoods. MWBEs comprise 19 of those businesses. The Finance Committee will meet next Friday to review the next round of applicants.
The Neighborhood Emergency Economic Development (NEED) Grant was created to provide relief to small businesses, located in Memphis’ most vulnerable neighborhoods that have been affected by the COVID-19 outbreak.
Eligible businesses can apply and find more information at NEEDGrant.org.