Local
Retail
Overview
Raised: $3,150
Total Commitments ($USD)
Platform
Honeycomb
Start Date
08/12/2024
Close Date
09/08/2024
Min. Goal
$25,000
Max. Goal
$30,000
Min. Investment
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
11.50%
Term Length
3.0 years
Year Founded
2022
Industry
Consumer Products, Goods & Services
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Local is raising funds on Honeycomb. It is a gift shop in Denver, Iowa that offers hyper-local products and fosters the growth of regional brands. Local curates a selection of goods that are designed and made locally, and celebrates the unique talents of regional artists. The business is committed to supporting and uplifting the local economy and received the Community Hero Award from Hello Alice in 2024. Hanna Nuss founded Local in April 2022. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $30,000. The campaign proceeds will be used to refinance high-interest debt.
Summary Profit and Loss Statement
| FY 2023 | FY 2022 | |
|---|---|---|
|
Revenue |
$69,161 |
$0 |
|
COGS |
$40,308 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$7,971 |
$0 |
Summary Balance Sheet
| FY 2023 | FY 2022 | |
|---|---|---|
|
Cash |
$13,087 |
$0 |
|
Accounts Receivable |
$-903 |
$0 |
|
Total Assets |
$15,564 |
$0 |
|
Short-Term Debt |
$24,186 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$24,186 |
$0 |
Financials as of: 08/12/2024
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Raise History
| Offering Name | Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| Local | 09/08/2024 | Honeycomb | - | $3,150 | Debt | Not Funded | RegCF |
No prior online funding rounds.
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