Use of Proceeds

Currently the patio is uncovered and only utilized about 50% of the year. Installing a covering, along with the required fire system, would allow the ability to host larger events, and seat more customers year-round. Targeted large private parties around holiday season will help offset the seasonal lull with the ability to utilize this space year-round.

Remaining funds will be used to purchase high dollar items such as crab meat or snow crab in bulk to increase savings for the restaurant and its customers, and any surplus will be used to pay off existing higher interest rate, short-term debt obligations to help improve cash flow.

Key Terms

Issuer
Crab Corner II, LLC

Type of Offering
Regulation Crowdfunding

Offered By
NextSeed US LLC

Offering Min

$75,000

Offering Max

$100,000

Min Individual Investment

$100

Type of Securities

Term Note

Maturity 48 months
Payments

Monthly

Security Interest Personal guarantee by John Smolen. Blanket lien on all assets of the business, junior to liens securing existing loans.
Ownership % Represented by Securities

0% Investors will not receive any equity interests in the Issuer or any voting or management rights with respect to the Issuer as a result of an investment in Securities.

Interest Rate 12.5%
View the Issuer's SEC Form C filing

Total Payment Calculator

Interest Rate*
12.5%
Term
48 months
Principal
$100.00
Total Payment*
$127.58
181522293643Months$0.00$35.00$70.00$105.00$140.00
  • Projected total payment

* Payment for any given month (including the total payment at the end of the final month) indicates the cumulative amount contractually required to be paid to an investor after the end of that month, assuming the loan is not prepaid. This calculation is a mathematical illustration only and may not reflect actual performance. It does not take into account NextSeed fees of 1% on each payment made to investors. Payment is not guaranteed or insured and investors may lose some or all of the principal invested if the Issuer cannot make its payments.

$0.00