La Palapa

La Palapa

Restaurant

Restaurant

Overview

Raised to Date: Raised: $70,000

Total Commitments ($USD)

Platform

Honeycomb

Start Date

11/22/2023

Close Date

01/06/2024

Min. Goal
$35,000
Max. Goal
$70,000
Min. Investment

$100

Security Type

Debt

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

11.00%

Term Length

3.0 years

Rolling Commitments ($USD)

Status
Funded
Reporting Date

01/30/2024

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$1,591

# of Investors

66

Momentum
Funded
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Year Founded

2018

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Low

Capital Intensity

Low

Location

Pittsburgh, Pennsylvania

Business Type

Life Style

La Palapa is raising funds on Honeycomb. It is a Mexican cuisine restaurant and Mezcal bar in Pittsburgh, Pennsylvania. La Palapa serves authentic Mexican cuisine and liquor to its customers and also provides catering services. The business owns two food trucks in addition to its physical location to serve additional customers. La Palapa has a loyal customer base and has been featured in publications, including the Pittsburgh City Paper, WTAE, and Pittsburgh Post-Gazette. Jesus Martinez founded La Palapa in January 2018. The current crowdfunding campaign has a minimum target of $35,000 and a maximum target of $70,000. The campaign proceeds will be used for kitchen equipment, bar construction, dining room equipment, marketing, rent, and legal fees.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$815,783

$840,200

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$212,738

$256,488

Summary Balance Sheet

FY 2022 FY 2021

Cash

$10,727

$10,727

Accounts Receivable

$0

$0

Total Assets

$23,575

$31,884

Short-Term Debt

$51,130

$57,235

Long-Term Debt

$168,905

$188,765

Total Liabilities

$220,035

$246,000

Financials as of: 11/22/2023
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La Palapa on Honeycomb 2023
Platform: Honeycomb
Security Type: Debt

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