About the Business
Square 1 Coffee Inc.
15 Fairway Dr NW
The idea of opening a coffee shop had been brewing in Brandy and Jonathon’s minds for some time. It was only when they were both experiencing big transitions in their lives that they were able to fully explore this exciting opportunity. For the last 19 years, Brandy had been a stay-at-home mom. Now that their six kids were older, she was ready to work again but she would have to start her career from scratch. Meanwhile, Jonathon was getting tired of working in the financial industry. He hated the paperwork, but loved working with people. By taking a moment and going back to “square one,” they discovered their original passion for coffee and coffee shops, created Square 1 Coffee and have been moving forward successfully ever since.
Description of Business
Square 1 Coffee has been proudly (and enthusiastically) serving craft coffee in southwest Edmonton since 2016. Known for its cozy atmosphere and fine selection of hand-picked, direct-trade coffee, this family-owned and -operated company has been supported by its local community from day one. But it hopes to be more than just the little coffee shop next door. The company wants to share its craft coffee passion with others and help educate those who’re interested in learning more about the story and process behind each bean. By expanding the business to five shops over time, with a dedicated space for educational training, and enriching the community one quality cup of direct-trade coffee at a time, the company hopes to achieve its goals.
Use of the Funds
Square 1 Coffee will be opening a second location in May at the Edmonton International Airport’s Premium Collection Outlet (EIA POC) in the local section. This new location will have more advanced equipment, more streamlined systems and a better layout. The company is hoping to raise $60,000 through its loan with ATB LendR. This loan would help Square 1 Coffee:
-pay for the equipment in the new location
-expand its shops to include an educational centre
-promote the new location (by increasing its marketing budget)
Terms of LendR Loans
Loans will have a term of 2 years (24 months), beginning after the loan is successfully funded. Square 1 Coffee Inc. will repay the principal plus 15% interest, calculated as a blended loan. Square 1 Coffee Inc. will make monthly payments of 1/24 the total repayment amount. If Square 1 Coffee inc. chooses to repay the loan early, the principal plus the full interest remaining in the 24-month period must be paid.
Square 1 Coffee Inc. has been in business for two years. There are financial, operational, and market risks for any business. Some that apply specifically to this business include:
● management needs to remain strong, focused and clear in its goals
● consistent quality needs to be maintained despite multiple locations
● luxury goods and services have greater susceptibility to market highs and lows
This lending profile does not contain a statement that, in a material respect and at the time and in light of the circumstances in which it is made, is misleading or untrue and it does not fail to state a fact that is required to be stated or that is necessary to make a statement not misleading.
Certified as of: April 27, 2018
By: Brandy Brozny and Jonathon Brozny