John Riedl
Ontario, CA (USA)
Role(s):
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Lotus
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Startup
Location:
Ontario
Industry:
Hospitality
Year Founded:
2007
Number Employees:
1-10 people
Description:
Lotus was designed by award winning architects Tagfront based in Los Angeles. John and Amin are both South Beach transplants looking for finishing funds to open their dream.
Lotus is located within walking distance to the $135m (URL removed), Aloft hotel, Hilton hotel and many more attractions. Rancho Cucamonga has been ranked as one of the fastest growing areas in the nation. (URL removed)
We have over $900k into lotus including liquor license and CUP (dance permit). We are looking for $350k to finish the build out and for opening inventories/staff training/opening expenses. Per our lease the landlord is giving us $350k for tenant improvement.
We are looking for $350k at 14% interest for 6 months (28%apr). We can pay back $150k within 30 days of receiving our Certificate of Occupancy (8 weeks left to finish build out and receive COO). The remaining $200k plus interest we can pay back in 6 months. John is willing to offer his 90% interest in the restaurant as collateral.
Conversely we can offer 45% interest in the company and then have lotus buy back the shares with profits from operations. $350k @ 28%apr
We have a business plan, approved plans, lease showing T & I allowance, financials, and Amin and John have over 20 years experience in the restaurant/nightclub industry from dishwashing to GM of $13+ million a year (URL removed)