Palm City Wines

Palm City Wines

Closed: Jun. 2023

About this raise

Palm City Wines is raising funds on SMBX. It is a restaurant and bar in San Francisco, California that serves as a neighborhood gathering space. During the pandemic, the business pivoted to convert into a wine and beer bottle shop also serving five varieties of Philly-style hoagie sandwiches. Palm City Wines is overall a wonderful place for cool beers, interesting wine, and good food made by good people. Dennis Cantwell and Monica Wong founded Palm City Wines in March 2019. The current crowdfunding campaign has a minimum target of $20,000 and a maximum target of $250,000. The campaign proceeds will be used for the buildout of a second location.

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Investment Overview

Invested this round: $420,710

Deal Terms

Total Commitments

Platform
SMBX
Start Date
04/27/2023
Close Date
06/26/2023
Min. Goal
$20,000
Max Goal
$400,000
Min. Investment

$10

Security Type

Debt

Payment Schedule

Quarterly

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

9.50%

Term Length

5.0 years

Company & Team

Company

Year Founded
2019
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Location
SAN FRANCISCO, California
Business Type
Life Style
Company Website
Visit Website

Team

Employees
12
Prior Founder Exits?
No
Founder Name
Dennis Cantwell
Title
Co-Owner
Founder Name
Monica Wong
Title
Co-Owner

Financials

 Revenue +29% YoY
$1,762,115
as of FY2022
 Monthly Burn
$920
as of FY2022
 Runway
16.2 months
as of FY2022
 Gross Margin
19%
as of FY2022

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$1,762,115

$1,368,662

COGS

$1,429,819

$784,740

Tax

$0

$0

 

 

Net Income

$-11,034

$-88,272

Summary Balance Sheet

FY 2022 FY 2021

Cash

$14,893

$5,735

Accounts Receivable

$0

$0

Total Assets

$229,060

$438,280

Short-Term Debt

$267,088

$311,293

Long-Term Debt

$0

$0

Total Liabilities

$267,088

$311,293

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$0
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
06/26/2023 SMBX - $420,710 Debt Funded RegCF
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Palm City Wines on SMBX 2023
Platform: SMBX
Security Type: Debt

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