Boston Fiber Company
Yarn Business
Overview
Raised: $75,000
Total Commitments ($USD)
Platform
MainVest
Start Date
06/18/2023
Close Date
08/18/2023
Min. Goal
$40,000
Max. Goal
$75,000
Min. Investment
$100
Security Type
Revenue Share
Series
Seed
SEC Filing Type
RegCF
Return Multiple
1.50X
Rev. Share %
5.05%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
08/30/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,250
# of Investors
154
Momentum
Funded
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Year Founded
2022
Industry
Consumer Products, Goods & Services
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Boston Fiber Company is raising funds on MainVest. It is a retail yarn business located in Boston, Massachusetts. The business provides a vast selection of high-quality and locally-sourced yarns and supplies and provides support to local knitters and crafters. Boston Fiber Company aims to develop its own line of dyed yarns and increase its workshop and online offerings. Sara Ingle founded Boston Fiber Company in February 2022. The current crowdfunding campaign has a minimum target of $40,000 and a maximum target of $75,000. The campaign proceeds will be used for fixtures, inventory, moving expenses, painting, and updating decor.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$88,853 |
$0 |
|
COGS |
$40,916 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$14,498 |
$0 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$1,824 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$49,454 |
$0 |
|
Short-Term Debt |
$13,764 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$13,764 |
$0 |
Financials as of: 06/18/2023
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