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Ohio

Squash the Beef

About Documents
200%
$30,000 Funded
$15,000 Target
Closed Time Left
78 Investors
$15,000 Min. Raise
$30,000 Max. Raise
36 mo. Term Length
9.0% Interest Rate
Closed

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Overview

We are a vegan catering company in Northeast Ohio. We cater events as well as provide concession for fairs and festivals. We also hosts popup events where people can purchase our food. We most recently started selling our food and beverages at local cafe shops in Cleveland (UnBar and Birch Cafe). 

Our customers are vegan and non-vegans––people who want good-tasting food. We typically sell out at every popup. People know us from our Kale Lemonade which was a top seller at the Cleveland Vegfest in 2019. 

People also love our Comfort Cone, Comfort Burger and Comfort Rolls. We play on the term "comfort" because we believe our food provides comfort like a hearty, satiable meal!

We are raising $30,000. There will be a six-month interest-only period at 3.75%, followed by a 30-month fully-amortizing period at 9.00%. The campaign ends on August 17, 2020 at 11:59pm.

 

Our "seafood" po boy.

 

The Project

With $23,000, we can purchase a new food trailer. 
With $3,500, we can purchase marketing materials, labels and packaging for wholesale/retail items.

With a food trailer, we will be able to be transient and cover more locations. We can increase our hours and sell more product!
 

We are hoping to buy a food trailer to cover more locations.

 

Ask a Financial Advisor

LaRese Purnell, MBA
CLE Consulting Firm

"I truly believe it is imperative and it's just the right thing to do as a community to support Squash the Beef. This is a brand that cares about and will be invested in the well-being of our city and its future. Their amazing brand is an innovative healthy choice, the food is nothing less than delicious and their service is impeccable. The Real Black Friday salutes them for their continued contribution to our community." 

Business

History

  • We started this business in March 2019. 
  • We participated in the Cleveland Vegfest in 2019 and made almost $7K in sales. 
  • We have catered 3 weddings buffet-style. 
  • We were the top sellers at the Pittsburgh Vegan Expo. 
  • We continue to sell out at popups .
  • We currently sell out vegan comfort wraps, kale lemonade, peach cobbler and mini sweet potato pies at a local cafe and tend to sell out every week.
     

Our vegan BBQ wings.

 

Future

Our vision is to increase sells via our food trailer by providing more options for people to try our food. With our increased hours and visibility, it will give people a chance to buy our food. Our longterm goal is to open a brick and mortar vegan sports bar.

 

Our Mexican corn on the cob.

 

Why We Stand Out

  • 1st Place in the Vegan Chili Cookoff in 2019 
  • Top sellers at the Cleveland Vegbash 
  • 1 of 20 chef finalist for Taste of Black Cleveland 

We create unique items that people love and enjoy. Our kale lemonade is very popular and known.
 

Our "cheddar" buscuits.

 

About the Owners

Kurtis J. Williams, Sr., Executive Chef, became vegan in 2017, in order to make a healthy lifestyle change. The transition to veganism was a struggle as Kurtis began to lose interest in cooking and finding tasty vegan cuisine. Due to that, Kurtis embarked on a mission to create recipes that were hearty, delicious and provided comfort without the use of animal products. What Kurtis discovered is that eating healthy, saving animals and protecting the environment does not have to compromise taste. His passion led to opening Squash the Beef and allowing others to enjoy vegan comfort food. 

Candace Maiden, Catering Director, became vegan in 2017, for health benefits. She is passionate about educating others on the benefits of a plant-based diet. She has taken on the role of catering director and is responsible for organizing events, managing the social media sites and catering orders. Her desire is for people to adopt to a plant-based lifestyle. Her motto is: "There is no wrong reason to go vegan."

 

Candace and Kurtis are the duo behind Squash the Beef.

Deal Summary

Summary

Issuer

  Squash the Beef Catering LLC

Security Type

  Secured loan

Loan Purpose

  Working capital during the COVID-19 pandemic 

Offering Amount

  $15,000 - $30,000

Interest Rate

  3.75% interest-only + 9.00% fully amortizing

Payments

  Monthly, disbursed to investors quarterly

Maturity

  6 months interest-only + 30 months fully amortizing 

Personal Guaranty  

  Candace Maiden and Kurtis J Williams, Sr.

Security Interest

  Blanket lien on assets of company

 

Your Earnings Potential

If you choose to invest, you will make a one-time investment via ACH that will be transferred to a secure escrow account. If the campaign successfully reaches its target, the funds will be distributed to Squash the Beef Catering LLC.

For more information on the mechanics of Honeycomb’s crowd investing platform, please review our Education Materials

 Investment Amount   One-Time Fee 

 Potential Quarterly

 Return: Interest-Only Period* 

 Potential Quarterly

 Return: Amortization Period* 

 Potential Total Repayment* 
 $100  $2.85  $0.93  $11.20  $113.92
 $500  $14.25  $4.68  $56.02  $569.60
 $1,000  $28.50  $9.37  $112.04  $1,139.19
 $5,000  $37.25  $46.87  $560.22  $5,695.97

Your ongoing responsibilities from investing are very limited. Over the life of the loan, you will receive a yearly 1099-INT, which is a simple tax document similar to what you receive for most savings accounts.*Individual payments may vary slightly based on rounding. Potential repayments include principal and interest; they do not include the one-time fee which is assessed when you make your investment. These amounts are calculated as a hybrid interest-only + amortizing loan, which means that there is a specified interest-only period followed by a an amortization period. There are no prepayment penalties and Squash the Beef Catering LLC may pay down their loan early, which may impact your earnings potential. Please note: returns are not guaranteed and investors could lose some or all of their investment.

Squash the Beef Catering LLC pays as agreed. You will receive quarterly payments directly into your bank account. In the event of a default, you will be contacted by the administrative agent to manage the collections process on the investors' behalf.

 

How Honeycomb is Compensated

Honeycomb charges Squash the Beef Catering LLC a $100 posting fee and a 6.0% loan origination fee on the total amount funded.

Additionally, to cover expenses associated with each investment, Honeycomb charges a 2.85% investment fee capped at $37.25 per investor.

Like what you see?  Check out our other campaigns here

 

Testimonials

 

 

 

View our
Offering Documents

Comments

Q & A

+ I`m new at this. so how did you get started at this program? i also have a small business Blessings Flo Essential Oils its on facebook under my profile name Alice Sillss

We met with Dora Rankins and she explained the program to us. I believe there is a contact us information on the page and someone will contact you. I am very pleased with the process so far!