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Ohio

Oasis Grocery Direct

About Documents
100%
$29,801 Funded
$29,801 Target
Closed Time Left
45 Investors
$23,000 Min. Raise
$250,000 Max. Raise
60 mo. Term Length
8.75% Interest Rate
Closed

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Overview

Our mission is to provide high-quality, affordable food & groceries to individuals located in areas where there are no grocery stores, which the USDA calls food deserts.

To achieve our mission, we’ve developed a collaborative “pop-up grocery” solution that enables plug ‘n play supply chain partnerships with regional grocers, farmers, and distributors so that any organization - church, school, or non-profit organization – can now offer its constituents the chance to:

  • Purchase food that’s priced lower than grocery stores
  • Pay with credit, debit, SNAP EBT or Oasis Credits
  • Arrange convenient, safe pick-up with assistance from their organization
  • Have Oasis proceeds donated to their organization

We are raising $250,000 at an interest rate of 8.75%, with a 12-month interest-only period and a 48 month fully amortizing period.

To speak with the Oasis founder, Dave Ranallo, click here to schedule a time!

 

Food Deserts - A National Problem Since the 1960's

According to data collected by the USDA in 2019, 54.4 million individuals live in food deserts.

 

 

We partnered with Pittsburgh's WQED to shed light on the crisis of food insecurity.

 

The Project

This project is a continuation of a similar effort that occurred during Spring 2020 in Cleveland, OH when peak COVID-19 meant no one could go to grocery stores or restaurants.

With lessons learned from that time and a new partnership with Giant Eagle, we are launching four (4) pickup points in Western PA and Eastern OH in July 2021:

  • Clairton, PA
  • Butler, PA
  • Upper Allegheny, PA
  • Aurora, OH

Once proven and streamlined, we’ll then set our sights on national expansion in Q4 2021.  You have the power to make this happen!

For every $5,000 raised via Honeycomb Credit, we’ll open additional pickup points (#5, 6, 7…) in Eastern OH or Western PA.

  • If you personally invest $5,000, you can select where we’ll launch our next pickup point in Eastern OH or Western PA.
  • If you live outside of OH/PA and personally invest $5,000, we’ll vet potential supply chain partners and community pickup-points in your region to determine how best to proceed.

Business

How It Works

The Oasis solution leverages the existing regional food supply chains’ capabilities and, most importantly, their strong desire to solve this generational problem in a financially sustainable way.  

We then partner with community organizations, which we call PuP’s, located in food deserts.  These organizations already have volunteers, who provide charity food access to their constituents in need.  

With Oasis providing “at cost” products while also managing the consumer ordering & support processes, the Community Pickup Points (PuP’s) can focus their attention on capturing online orders from those without Internet access and then assisting those with transportations issues to get their food.  For their efforts, the Community PuP's receive proceeds equal to 2-4% of gross sales.


 

 

 

Financial Projections

We opted to become a social enterprise rather than a nonprofit for a variety of reasons. Overall, being a for-profit entity enables us to raise non-debt funds from multiple sources via equity and explore community ownership models like coops and IGA supermarket-like franchising.  Our future owners will be both participants in the program and scaling partners (for example: Giant Eagle, grocers, distributors, community pickup points and other non-profits like Food21).  

As a for-profit that scales nationally, we’ll be able to share in the significant financial upside with those partners AND employees if a liquidity event occurs – such as being acquired or structuring an employee ownership trust.
 

 

Meet the Team

In addition to the Oasis Grocery Direct Team, we have formed and continue to develop invaluable partnerships with leaders in the communities we serve. Giant Eagle and other regional suppliers are providing "at cost" groceries for Oasis to resell. In addition, Food21, a Pittsburgh-based nonprofit committed to our region’s food economy is organizing community participants and local vendors – and has invested $50,000 in Oasis.

To speak with the Oasis founder, Dave Ranallo, click here to schedule a time!

 

Deal Summary

Deal Summary

 Issuer

 Oasis Grocery Direct Inc.

 Doing Business As

 Oasis Grocery Direct

 Security Type

 Secured Loan

 Loan Purpose

 Opening new pickup locations

 Offering Amount

 $23,000 - $250,000

 Interest Rate

 8.75%

 Payments

 Monthly, disbursed to investors quarterly 

 Maturity

 12 months interest-only period + 48 months fully amortizing 

 Personal Guaranty  

 Food21 of Pennsylvania

 Security Interest

 Blanket lien on assets of the company 

 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 Oasis Grocery Direct Inc.

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

 Investment Amount   One-Time Fee 

Potential Quarerly

Return: Interest-Only Period

 Potential Quarterly

 Return: Amortization Period* 

 Potential Total Repayment* 
 $100  $2.85   $2.18   $7.43   $127.63
 $500  $14.25   $10.93   $37.15   $638.15
 $1,000  $28.50   $21.87   $74.30   $1,276.29
 $5,000  $37.25   $109.37   $371.50   $6,381.46

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 an amortization period. There are no prepayment penalties and Oasis Grocery Direct 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.

Oasis Grocery Direct 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 Oasis Grocery Direct Inc. a $250 posting fee and a 6.0% - 8.0% loan origination fee based 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

View our
Offering Documents

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