Better World Refill Shop

Better World Refill Shop

Cleveland's First Bottle Refill Shop

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View on Honeycomb Credit
Security Type
Secured Loan
Categories
Consumer Goods & Products
Location
Rocky River, OH
Offering Date
April 20, 2021
Expected Close Date
June 15, 2021
Target Raise
$30.00K-$80.00K
Deal Notes

10.25% interest rate with a six-month interest-only period and a 54-month fully-amortizing period

Company Description

As Cleveland's First Bottle Refill Shop, Better World Refill Shop is dedicated to helping the community reduce their plastic waste, refill their own vessels with natural products, and live more sustainably. Our amazing customers work hard to eliminate excessive plastic from their homes and live a more sustainable lifestyle. Many of our customers, just like Rachel, have experiences illnesses due to the excessive chemicals from the products that are in their homes. Rachel feels like it is important to take care of your body just like you would take care of the earth. You only have one body and we only have one earth; we need to take care of both! 

Use of Proceeds

New shop, remodeling, fixtures - $8,000

Products for a new shop - $28,000

Paper, digital, and apparel marketing - $2,000

Management Team / Advisory Board Bios

Rachel Regula, Owner
Rachel was officially diagnosed with Lyme Disease in December 2017 after a long journey with Functional Medicine for symptoms that "didn't make sense.” Part of her journey with Functional Medicine was to eliminate excessive chemicals from her lifestyle but it didn't stop there. Rachel continued to educate herself on "clean" and natural products and how the excessive chemicals in bath, body, laundry, and cleaning products are making people just like her very sick. Eliminating these excessive chemicals wasn't just to help the environment–it was a life or death decision for her.

Deal Notes

10.25% interest rate with a six-month interest-only period and a 54-month fully-amortizing period

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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