PitBoss

Wade is raising funds to build out a new space for his restaurant!

Security Type

Secured Loan

Company Description

Pit Boss BBQ is a pit style bbq restaurant specializing in authentic homestyle favorites. We are committed to serving superior quality food for the most discerning appetites. At Pit Boss BBQ we believe in strengthening the community by supporting education, heritage, and community development. Everyone is a winner at Pit Boss BBQ.

We are raising $300,000. There will be a 6 month interest-only period at 7.00%, followed by a 54 month fully-amortizing period at 7.00%.

Key Deal Facts

Google: 4.4 out of 2,611 reviews
UberEats: 4.3 out of 355 reviews
Trip Advisor: 4.5 out of 324 reviews

Management Team / Advisory Board Bios

Tracy graduated from Eastern Michigan state and went on to work for Delta 22 years. She had a dream of owning her own restaurant. She has a passion for taking care of people.

Wade is from Dothan AL and has been here in Atlanta since 1986 . Has worked for a few steakhouses and loves to see people enjoy the food he helped create. He too has always wanted a place where people can come in enjoy his style of BBQ.

Deal Notes

Interest Rate: 7.00%

Payments: Monthly, disbursed to investors quarterly

Maturity: 6 months interest-only + 54 months fully amortizing

Personal Guaranty: Wade McSwain

Security Interest: Blanket lien on assets of company

Amount Raised : $0

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Security Description

Secured debt is debt backed or secured by collateral to reduce the risk associated with lending. If the borrower on a loan defaults on repayment, the debt holder can seize the collateral, sell it, and use the proceeds to pay back the debt. Assets backing debt or a debt instrument are considered as a form of security, which is why unsecured debt is considered a riskier investment than secured debt.

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