Mercy Vintage
Used Merchandise Retailer
Overview
Raised: $72,610
Total Commitments ($USD)
Platform
SMBX
Start Date
02/21/2024
Close Date
03/28/2024
Min. Goal
$20,000
Max. Goal
$60,000
Min. Investment
$10
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
10.50%
Term Length
3.0 years
Rolling Commitments ($USD)
Status
Funded
Reporting Date
03/30/2024
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$2,075
Momentum
Funded
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Year Founded
2019
Industry
Apparel & Fashion
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Mercy Vintage is raising funds on SMBX. It is a used merchandise retailer in Oakland, California, that buys, sells, and curates sustainable clothing. Mercy Vintage believes in investing in a forever wardrobe rather than a trend-driven, short-lived wardrobe and aims to create a community of people connected through recycling and stories told through the clothes. The business also supports local artists and designers and loves to match people with their individual styles through experimentation. Karen Fort founded Mercy Vintage in December 2019. The current crowdfunding campaign has a minimum target of $20,000 and a maximum target of $60,000. The campaign proceeds will be used for working capital for a new location expansion.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$996,556 |
$824,038 |
|
COGS |
$488,297 |
$480,140 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$1,325 |
$120,211 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$67,908 |
$-6,397 |
|
Accounts Receivable |
$3,407 |
$0 |
|
Total Assets |
$166,315 |
$72,403 |
|
Short-Term Debt |
$262,977 |
$18,904 |
|
Long-Term Debt |
$149,900 |
$169,557 |
|
Total Liabilities |
$412,877 |
$188,461 |
Financials as of: 02/21/2024
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