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Pennsylvania

Square Cafe

About Documents
0%
$0 Funded
$100,000 Target
Closed Time Left
0 Investors
$100,000 Min. Raise
$250,000 Max. Raise
60 mo. Term Length
6.5% Interest Rate
Closed

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Introduction

Square Cafe opened in 2003 with a vision of filling a need and creating a niche for a breakfast & lunch cafe. Our business has grown exponentially over the years. We serve the best food with amazing customer service, from breakfast sandwiches to delicious omelets, French toast, gluten-free pancakes, burgers, salads and plenty of plant-based options. Our customers return regularly because they feel "at home" in our cafe. We love everyone, support our community, and pay fare wages.

We are looking to borrow up to $107,000. The annual interest rate includes a 3.75% interest-only period followed by a 30-month fully amortizing period repaying at 7.00% interest rate.


No need to choose between savory and sweet––we have a wide selection of both!


About Square Cafe

Opening a cafe was a pipe dream for me. I wanted a place for excellent coffee, scrumptious desserts, culture and entertainment. What the cafe has become is far more than my wildest dreams. We started with breakfast, lunch and, of course, excellent coffee and delicious desserts. In 2003 and 2004 we served about 50-80 customers Monday-Friday and about 200 on Saturdays and Sundays.


Our storefront in Regent Square.


In the beginning of 2020, we were seating 200-300 guests Monday-Friday and 450-600 on the weekends. We are fast and love what we do every day. Square Cafe has also grown its catering business over the years from small house parties to weddings, board room dinners and more baby/wedding showers than we can count. We also take tons of pride on our community and so many non-profits we work with such as Pennsylvania Organization for Women in Early Recovery, Pittsburgh Action Against Rape, Allies for Health, the Jewish Community Center, and on and on and on.


We have many lattes, including the Golden Milk Latte (pictured).


Square Cafe will continue to be active in our community. We will always treat our customers with love. Our employees stay with us for years. We operate in a cooperative environment. Cook with love and serve with grace. These things will only strengthen over the next several years.


Our red velvet pancakes.


This campaign is so important to many people. Square Cafe hires people with different capabilities. We believe success is for the cafe and everyone we come into contact, from babies in their parents’ strollers, to many dog friends that eat at our outdoor patio, multi-generational meals and our team. Our food is excellent, always fresh and innovative. We are the HELPERS!


Our patio is dog-friendly!


Our food is always fresh.


How You'll Help During COVID-19

We need this funding to help keep us viable during this challenging time in our country. Our sales originally dropped around 70% and over the past few weeks we have been able to bounce back to about a 40% drop overall. Sales are slowly picking up as we are delivering to neighborhoods all over Pittsburgh every day. This approach has been helpful for keeping most of our staff employed and some of our bills paid. When this loan is funded we will bring back 6 people that we had to lay off due to lack of work, continue to share expenses for employee healthcare fees, keep up with overhead expenses like rent and utilities, and keep our vendors paid up to date.

Square Cafe has always met its goals. We will be stronger and healthier as things begin to go back to normal. And we have learned new, creative ways to run our business smoothly while we remain a constant positive force.


We love jackfruit!


Fast Facts

  • Award: Power of Work from Goodwill
  • Proclamation from City of Pittsburgh on the 15th anniversary of Square Cafe, May 16, 2018
  • Platinum rating with Sustainability Pittsburgh
  • All employees are paid a fair, living wage
  • Dog-friendly patio
  • Partnered with 412 Food Rescue
  • Over 10,000 likes on Facebook, 3,500 follows on Instagram, and 3,700 followers on Twitter
  • Owner is a Honeycomb alum!

Try one of our milkshakes!


One of our French toast offerings.


About the Owner

Sherree Goldstein worked at Gateway Rehabilitation Center for 11+ years prior to opening Square Cafe. She works at the cafe or her new store, Honeycomb alum My Goodness, just about every day. Sherree treats her employees with great respect and believes they are the true doers every single day. She sits on the Board of Directors for PAAR currently. She was on the Board of POWER for 11 years, as well as the JCC, and has volunteered at several other local non-profits. Sherree has 2 adult children, and spends most of her time with family, friends, riding bikes, and working, She has also found a love for RVing.


Sherree Goldstein is the owner of Square Cafe.


Deal Summary

Issuer

  SC&C, INC.

Security Type

  Unsecured loan

Loan Purpose

 Working capital during the COVID-19 pandemic

Offering Amount

  $20,000 - $107,000

Interest Rate

  3.75% interest-only (first 6 months),

  7.0% amortizing period (last 30 months)

Payments

  Monthly, disbursed to investors quarterly

Maturity

  6 months interst only + 30 months amortizing

Personal Guaranty  

 Sherree Goldstein

Security Interest

 None


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 SC&C, INC..

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 $1.40 $0.93 $10.93 $111.17
$500 $7.00 $4.68 $54.65 $555.85
$1,000 $14.00 $9.37 $109.30 $1,111.71
$5,000 $37.25 $46.87 $546.48 $5,558.54

*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 SC&C, INC. 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.

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.

SC&C, INC. 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 SC&C, INC. 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 1.40% investment fee capped at $37.25 per investor.

Like what you see?  Check out our other campaigns here!

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Offering Documents

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