2Sisters 2Sons

Michael & Kwasi are opening a second location

Security Type

Secured Loan

Company Description

We are a small family-operated takeout restaurant that provides a diamond in the rough in the Sharpsburg area with our authentic Caribbean spin. Our customers are from a mixed platform, with young and old folks from all different cultures and backgrounds coming to try us out.

Use of Proceeds

Lease/Down Payment $5,750
Equipment $12,000
Utilities $1,000
Inventory $6,000
Signage $3,000
Working Capital $40,000

Management Team / Advisory Board Bios

Marline Siddo and Denise Josephs are the two sisters. They been making Jamaican dishes since they were 9 years old in Jamaica. They came to the United States to have a better shot at a normal life, and since then have used their skills to help make them income. Their sons – Michael Brown and Kwasi Prince – are part-owners as well and focus more on the operations side of the business.

Deal Notes

Loan Purpose: Open second location

Interest Rate: 9.75%

Payments: Monthly, disbursed to investors quarterly

Maturity: 60 months

Personal Guaranty: Michael Brown and Kwasi Prince

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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