Cebu Chicago

Cebu Chicago

Restaurant

Restaurant

Overview

Raised this Round: Raised: $16,450

Total Commitments ($USD)

Platform

Honeycomb

Start Date

01/21/2024

Close Date

03/04/2024

Min. Goal
$50,000
Max. Goal
$100,000
Min. Investment

$100

Security Type

Debt

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

11.75%

Term Length

3.0 years

Year Founded

2018

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Location

Chicago, Illinois

Business Type

Life Style

Cebu Chicago is raising funds on Honeycomb. It is a modern Filipino restaurant in Chicago, Illinois, that aims to highlight Filipino cuisine in Chicago. Cebu Chicago showcases the rich Filipino culinary traditions and creates a welcoming environment for people to enjoy. It is a profitable business with growing revenues and profits and has been named the Best New Restaurant and Best Filipino Restaurant in Chicago. Malvin Tan, Marlon Tan, and Martin Tan founded Cebu Chicago in April 2018. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $100,000. The campaign proceeds will be used for lighting and fixtures, tables and bar design, bathroom renovation, floor renovation, and miscellaneous expenses.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$743,547

$713,689

COGS

$193,895

$214,410

Tax

$0

$0

 

 

Net Income

$-48,427

$-102,797

Summary Balance Sheet

FY 2022 FY 2021

Cash

$442

$8,726

Accounts Receivable

$0

$0

Total Assets

$186,248

$176,464

Short-Term Debt

$127,148

$3,319

Long-Term Debt

$153,220

$521,727

Total Liabilities

$280,368

$525,046

Financials as of: 01/21/2024
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Cebu Chicago on Honeycomb 2024
Platform: Honeycomb
Security Type: Debt

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