Cebu Chicago
Restaurant
Overview
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
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
11.75%
Term Length
3.0 years
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
03/04/2024
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$392
# of Investors
14
Momentum
Not Funded
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Year Founded
2018
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
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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