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Security Type
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Debt/Note
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Categories
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Hospitality
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Min Investment
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$10
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Offering Date
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October 08, 2021
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Expected Close Date
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January 11, 2022
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Target Raise
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$250.00K
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Security Price
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$10
Company Description
El Tamarindo is more than a restaurant. It is a story of how a family has worked hard to keep the El Salvadoran traditions alive. Jose and Betty Reyes came to Washington, D.C. in the early 1980’s with a shared dream of settling down and building a new family life in the United States. The Reyes’ worked hard (Jose as a handyman and Betty as a dishwasher) and carefully set their earnings aside for another shared dream of opening their own restaurant.
Key Deal Facts
The restaurant got a complete makeover in the Spring of 2016, and in 2017 Trip Advisor awarded El Tamarindo their coveted Certificate of Excellence.
In a neighborhood that has witnessed gentrification pushing out the Latino community, the restaurant has been a mainstay as the longest-standing Salvadoran/Mexican restaurant in Washington D.C.
The Reyes family believes in giving back to the community. The owners lend the outer walls out to local artists to create colorful murals and the restaurant also hosts local Latino artists to exhibit their works inside the restaurant.
El Tamarindo also has a signature event - National Pupusa Day, declared by Mayor Muriel Bowser in 2016, which is celebrated on the second Sunday each November.
Use of Proceeds
- The Reyes family intends to use the offering net proceeds towards turning their parking lot into an outdoor patio with heaters to align with social distancing guidelines and to better serve their customers all-year round.If the maximum raise is met:
- (75.00%) $187,500 of the proceeds will go towards building an outdoor patio and kitchen expansion
- (25.00%) $ 62,500 of the proceeds will go towards working capital
Management Team / Advisory Board Bios
ose Reyes, Owner
Jose Reyes grew up in El Salvador and immigrated to the United States in the 1970’s in search of a better life. In 1982, Mr. Reyes opened El Tamarindo, serving Mexican and El Salvadoran food after years of working at local restaurants. When he arrived from El Salvador, he did not know how to read or write but returned to school to do so while operating the restaurant. He now owns El Tamarindo with his wife Betty Reyes and his daughters Ana Reyes and Evelyn Andrade.
