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Pennsylvania

Madeleine Bakery and Bistro

About Documents
62%
$46,735 Funded
$75,000 Target
11 days Time Left
47 Investors
$15,000 Min. Raise
$75,000 Max. Raise
36 mo. Term Length
5.5% Interest Rate
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Overview

Madeleine Bakery & Bistro is a small, local bakery that specializes in classic French baked goods. We strive to provide the best quality products made from the finest and freshest ingredients we can obtain. We service the local Regent Square community, as well as the greater East End of Pittsburgh.

Our customers choose Madeleine Bakery & Bistro because of our absolute commitment to quality. We do not accept anything less that the best: in ingredients, in techniques, in customer service. We source the finest products – be they local fruits and vegetables, butter from the Normandy region of France, pure vanilla or bitter chocolate from Belgium – in order to provide a solid foundation for our products. We invest the time and effort in ourselves and our careers in order to learn and practice the finest techniques that we can apply to our pastries. Our customer service is the final piece of why Madeleine Bakery & Bistro is a special bakery. We attempt to make each and every guest feel welcome and as if they have been frequenting the bakery for years.

To obtain some working capital during the COVID-19 shutdown, we are raising $75,000. There is a six month interest-only period at 3.75%, followed by a 30 month fully-amortizing period at 5.50%. The campaign ends on August 21, 2020 at 11:59pm.
 

We are a small and local bakery located in Regent Square.

 

The Project

COVID-19 has slowed things down for us considerably, and we want to be sure that we can proactively prepare for another shutdown.

If funded by Honeycomb, our business will be much better situated financially in the event of another COVID-19 shutdown. We will be able to retain our staff at their current pay levels, stay current on all of our bills, and maintain our business' working capital through any possible shutdown.

 

Our strawberry, mint & rhubarb danishes, made fresh.

Business

History

Our business began in late 2017 and is focused on serving classic baked goods to our community. In the subsequent years, we have focused on growing our customer base – both physical and on social media – and we have also begun and grown a wholesale side to the business. We are currently working with 9-10 local business in order to provide them with classic baked goods. As the business grows, we are working on streamlining the logistic side of the business by working with our suppliers to lower costs and better manage inventory levels as well as to be more efficient with labor and delivery.

 

A selection of treats.

Future

As the business continues to grow in the coming years, Madeleine Bakery & Bistro looks to continue to expand our local customer base, our wholesale business and our footprint throughout the city. We are working daily to expand our customer base by increasing our presence and engagement on social media, and by encouraging our current customers to recommend us to their friends and neighbors. We are growing the wholesale aspect of the business by reaching out to premier businesses in the city that we think would be a good fit for our products. As we approach the maximum capacity in our current location, we are looking for new locations that will be the perfect fit for our business.

 

Grab a fresh baguette!

 

Why We Stand Out

Madeleine Bakery and Bistro has been featured in several local and international publications including the Pittsburgh Magazine, Good Food Pittsburgh, and a feature in Korean food publication.

 

Celebrate Valentine's Day with our macarons.

 

About the Owners

Andrew Stump
Andrew has been passionate about culinary arts in general, and baking specifically, for most of his life. Born and raised in Central Pennsylvania, he holds two degrees in the Culinary and Hospitality field. After college, he began his career at the Nemacolin Woodlands Resort, and continued working through several small, local restaurants in Pittsburgh, culminating in the opening of Madeleine Bakery & Bistro in 2017.

Abigail Stump 
Born and raised in Western Pennsylvania, Abigail holds a degree in Nutrition from West Virginia University. Post college, she began working at the Nemacolin Woodland Resort, where she met Andrew. While working in several Pittsburgh restaurants, she fleshed out her vision for Madeleine Bakery & Bistro. In 2017, her vision became a reality and both she and Andrew work diligently to continue the dream of the bakery.

 

The family behind Madeleine: Andrew, Abigail, and Matthew.

Deal Summary

Summary

Issuer

  Madeleine Bakery and Bistro LLC

Security Type

  Secured loan

Loan Purpose

  Working capital during the COVID-19 pandemic 

Offering Amount

  $15,000 - $75,000

Interest Rate

  3.75% interest-only + 5.50% fully amortizing

Payments

  Monthly, disbursed to investors quarterly

Maturity

  6 months interest-only + 30 months fully amortizing 

Personal Guaranty  

  Andrew Stump

Security Interest

  Blanket lien on assets of company

Offering Portal

   Honeycomb Portal LLC

Offering Type

   Reg CF

 

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 Madeleine Bakery and Bistro 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  $10.73   $109.14
 $500  $14.25  $4.68   $53.63   $545.68
 $1,000  $28.50  $9.37   $107.26   $1,091.36
 $5,000  $37.25  $46.87  $536.31   $5,456.81

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 Madeleine Bakery and Bistro 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.

Madeleine Bakery and Bistro 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 Madeleine Bakery and Bistro 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.

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Offering Documents

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