Goblin Sushi

Goblin Sushi

Jo & Jin are turning their sushi restaurant into a franchise!

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Security Type
Secured Loan
Categories
Food & Bev
Min Investment
$100
Location
Macomb, MI
Offering Date
September 24, 2020
Expected Close Date
December 08, 2020
Target Raise
$50.00K-$160.00K
Deal Notes

Loan Purpose: Open second location

 Offering Amount: $50,000 - $160,000

 Interest Rate: 9.75%

 Payments: Monthly, disbursed to investors quarterly

 Maturity: 6 months interest only + 54 months fully amortizing

 Personal Guaranty: Jo Seph Cho and Haksoon Cha

 Security Interest: Blanket lien on assets of company

Company Description

We are a casual sushi restaurant focused on takeout and delivery. Located at a remodeled Subway restaurant, our set-up is well-suited to a fast-casual service experience – we try to be different by being clean, bright, and modern while other sushi restaurants focus more on a traditional look with dark ambiance.

While most sushi restaurants use frozen fish and inappropriate rice – and then disguise the cheap ingredients with heavy sauces – we focus on a small menu with high-quality, fresh ingredients. Because of our dedication to fresh seafood, our training system and quality control are big priorities.

We have a 4.9/5 rating out of 266+ Google reviews!

We are raising $160,000 paid at a 9.75% interest rate with a six month interest-only period and a 54 month fully-amortizing period.

Use of Proceeds

  • Walk-in cooler & freezer: $15,000
  • Cost of building second location (furniture, kitchen equipment): $25,000
  • Repair and remodel first location: $10,000
  • Hiring apprentice sushi chef for training: $25,000
  • Put signs on first and second locations: $15,000

Management Team / Advisory Board Bios

Jin Cha

Jin Cha has been a sushi chef for 10 years. He is a South Korean immigrant with a bachelor’s degree in law from a Korean university. He served in the South Korea Navy for 3 years as a joint military practice with the U.S. Navy.

Jo Cho

Jo Cho came to U.S. in the year 2000 at the age of 14 from South Korea. He graduated from Michigan State University with a major in Linguistics. He has 4 years of experience in sushi.

Deal Notes

Loan Purpose: Open second location

 Offering Amount: $50,000 - $160,000

 Interest Rate: 9.75%

 Payments: Monthly, disbursed to investors quarterly

 Maturity: 6 months interest only + 54 months fully amortizing

 Personal Guaranty: Jo Seph Cho and Haksoon Cha

 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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