In its December meeting, the EDGE Economic Development Finance Committee awarded three NEED Grants to local salons struggling with the effects of the COVID-19 pandemic.
Since the COVID-19 pandemic began, salons across the city have been hit hard. Nearly 30 percent of all NEED Grant recipients are salons.
To date, EDGE has awarded $786,700 to 141 businesses throughout Memphis’s most vulnerable neighborhoods; 117 of those (83%) are Minority/Women-Owned Businesses.
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.