Kornr Store

Black woman developer gets back to basics with Detroit neighborhood marketplace.

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Form C
View on Small Change
Security Type
Debt
Categories
Consumer Goods & Products
Location
REDFORD, MI
Expected Close Date
September 30, 2022
Target Raise
$25.00K-$200.00K
No. Investors
21
Security Price
$1
Website
kornrstore.com
Number of Employees
0
Cash
$0
Revenue
$0
Short Term Debt
$0
Cost of Goods
$0
Long Term Debt
$0
Net Income
$0

Company Description

Many Detroit neighborhoods lack life essentials that we take for granted on a daily basis - access to healthy food and drink options, personal and home goods, and the Internet. Brinda Devine, owner of Purpose8 Real Estate, LLC (the “Company” or “P8 Real Estate”) says “We could have a long discussion on the why, but I would rather focus on a solution and create a why not.”  Her “why not” is a concept called Kornr Store, and P8 Real Estate has purchased a tiny building on 6224 16th Street, Detroit, 48208  (the “Property”) to build a home for the first one.

Key Deal Facts

Black woman developer. Focused on small scale development, Black demographic. 84% Black residents, Food desert.  Bringing food to a neighborhood without, Community centric. Anchored with a tiny, neighborhood-centric marketplace, Terms. 8% amortizing debt. ~5 year term, Payments begin. First quarter 2023
Amount Raised : $41,000
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Security Description

Debt is something, usually money, borrowed by one party from another. Debt is used by many corporations and individuals to make large purchases that they could not afford under normal circumstances. A debt arrangement gives the borrowing party permission to borrow money under the condition that it is to be paid back at a later date, usually with interest.

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