Opening a store for our coffee roasting business
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 27% |
| Lender Rate: | 13% | Borrower: | ArtisanRoast |
| Finished | State: | TX | |
| Funded: | 100% | Group: | PsychDoc's Group |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2006-10-19 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Oct 19, 2006 | Current |
| Jun 09, 2007 | Payoff in progress |
| Jun 13, 2007 | Paid |
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The specialty coffee business is on the rise in South Texas and we want to jump on the bandwagon! In November 2005, Joel [LAST NAME DELETED] founded Artisan Roast, LLC to roast and provide the best coffee beans in Corpus Christi. He had learned to roast in Cleveland, Ohio under the an apprenticeship with a master roaster and for the next 6 years, he kept roasting at home for his personal pleasure. He would now and then purchase commercial machinery like the Ambex YM-5 that we still use today to roast our beans. We also now have a commercial espresso machine and grinder and we want to make our part time business full time. Louis Salin got on board to help do just that. In the past month, we have secured two new wholesale beans accounts, while still actively working on several more. We are also looking into opening a store for selling our beans and our coffees to individuals. The store also has a drive-through potential. We have invested about $12,000 in total in the business by buying the roaster, espresso machine, grinder, green beans, time and money (yes, we do have money in the bank). In fact, our initial loan of $2,000 to purchase our initial green bean inventory has been paid back in only a couple months. |
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