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Ohio

Twisted Taino

About Documents
43%
$8,543 Funded
$20,000 Target
10 days Time Left
16 Investors
$20,000 Min. Raise
$50,000 Max. Raise
60 mo. Term Length
9.75% Interest Rate
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Overview

When Melendez Catering Services was founded, it quickly became the only one-stop-shop catering service that focused on Latin-fused cuisine in Northeast Ohio. After four years of great success in private & corporate events, it became obvious that we needed to expand to a brick & mortar location. Our target market has always been both the Latino community and Latin food aficionados. We have focused on bringing a modern take into traditional flavors from the Caribbean & Latin America.

We work only with the freshest ingredients and reinvented family recipes that entice everyone's appetite while still bringing a sense of nostalgia. Our food is fresh, made to order, tropical yet fast, and unique on its own.

We are raising $50,000, paid over a 6-month interest-only period and 54-month fully-amortizing period at a 9.75% interest rate.

 

You will be transported to San Juan, Puerto Rico in our new space!

 

The Project

We are still in the buildout process of our Parma location. It will be a San Juan-themed restaurant, upscale yet casual for the entire family. You will definitely feel transported to San Juan, Puerto Rico through ambiance, food, and service. Your investment will help us purchase the following.

Building Sign - $5,100

Build Two Bathrooms - $20,000

Dine In Furniture - $5,000

Dine In Floors - $10,000

Our building is a 5,300 sq ft space divided into two sections. The first section, which is nearly completed, is the kitchen. We will be open for carryout, delivery, and curbside only to start. Implementing the dine-in area will serve approximately 80 patrons on a weekly basis increasing sales to about $9,000 a week in sales.

 

Our Latin-fusion cuisine utilizes dishes from all over Latin America and the Caribbean.
 

Business

Past, Present, and Future

Twisted Taino Restaurant opened as a pop-up restaurant in 2018 and was finally established at the Sauce The City Food Court in August 2020. Since then, we have been grossing around $30,000 in monthly sales and employed 10-15 people. In opening the Parma location, we are expecting to double profits and create at least another 10 part-time positions.

Twisted Taino will be in full effect offering the only all-you-can-eat Latin lunch buffet in Northeast Ohio. We will be grossing between $700,000 - $1,000,000 with combined dine-in, carryout, delivery, and event catering services.

 

We will be the only all-you-can-eat Latin buffet in Northeast Ohio!

 

Awards

Wedding Wire Couple's Choice Award 2020
Cleveland Chain Reaction Season 2 Top 20 Finalist
Cleveland Magazine's BEST of CLE 2020 Editor's Choice Award
Cleveland Scene Magazine Best Restaurants that opened in 2020
Cleveland Hispanic Business Center's 2020 Groundbreaking Business of the Year Award

 

Our Guava Coco French Toast is award-winning!
 

About the Owners

Chef Jose and Cristina Melendez
Partners / Executive Chefs

As the owners & operators of Melendez Catering Services, Chef Jose and Cristina continue the trend of a modern take in traditional flavors from the Caribbean and Latin America. Together they have brought a new life to Latin-fused cuisine in Cleveland. They have been highlighted in the Cleveland Chain Reaction Season and are winners of 2020 Cleveland Magazine's Best of CLE Award, the Hispanic Business Center's 2020 Groundbreaking Business Award, and Cleveland Scene's Best Restaurants that Opened in 2020. They promise to bring something fun and twisted to the dishes that everyone loves. So, get ready to GET TWISTED!!

Omar Melendez
Partner / Manager

An enthusiastic professional photographer, Omar has built his photography business Omar's Naked Eye Photography from the ground up. Together with his wife Lia, he has been working towards building the Twisted Taino brand to a bigger concept that would include apparel, jewelry, and more. Omar will be taking the full-time management position at the West 25th location while Chef Melendez will be taking over the Parma location once is built.

 

Thank you for checking out our campaign!

Deal Summary

Deal Summary

 Issuer

 Twisted Taino Restaurant LLC

 Doing Business As

 Twisted Taino Restaurant LLC

 Security Type

 Secured Loan

 Loan Purpose

 Buildout

 Offering Amount

 $20,000 - $50,000

 Interest Rate

 9.75% annually

 Payments

 Monthly, disbursed to investors quarterly 

 Maturity

 6 months interest only + 54 months fully amortizing 

 Personal Guaranty  

 Jose Melendez

 Security Interest

 Purchase money interest in equipment to be purchased 

 Offered 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 Twisted Taino Restaurant 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   $2.43   $6.89   $128.81
 $500  $14.25   $12.18   $34.43   $644.05
 $1,000  $28.50   $24.37   $68.85   $1,288.11
 $5,000  $37.25   $121.87   $344.27   $6,440.54

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 Twisted Taino Restaurant 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.

Twisted Taino Restaurant 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 Twisted Taino Restaurant LLC a $250 posting fee and an 8.0% 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

Comments

Q & A

+ How much can I invest? Once I do invest what does that mean for me?

Thank you for your interest in investing! As you go through the checkout process, it will be made clear how much you'll be able to invest according to SEC investor protection regulations. Being an investor means that you have entered into an agreement with me in which I make repayments to you according to the terms listed on this campaign page and in the "Offering Statement" found in the Documents section of this page. It also means that you become one of my favorite customers and people! Please let me know if you have any other questions

+ Would you guys be interested in a silent partner? Not a loan

Thank you for your interest, currently the terms as per Honeycomb opportunity are what we are looking for at this moment, however based on the outcome of the campaign, I would consider other options.