Memphis, Tenn. (January 6, 2021) – As restaurants and grocers face additional struggles amid new restrictions related to the COVID-19 pandemic, EDGE today amended its NEED Grant program to provide fast and much-needed assistance to these businesses.
Restaurants and grocers that previously received NEED Grant awards and have been further affected by the recent Shelby County Health Department Directives may now qualify for an additional $5,000 grant.
“It’s clear as this pandemic continues that absent some sort of help, survival rates for these businesses could drop significantly,” said EDGE President & CEO Reid Dulberger. “As they deal with reduced capacity and lost revenue, this additional assistance can provide a much-needed lifeline to help offset operational costs so they can focus on keeping their doors open.”
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. First-time NEED Grant applicants may still qualify for a one-time award of between $5,000 and $10,000.
To date, EDGE has awarded $811,700 to 146 businesses throughout Memphis’ most vulnerable neighborhoods; 122 of those (84%) are Minority/Women-Owned Businesses.