Source of Influence Inc.
DBA
Qcrew BBQ Catering Co.
Financing Criteria Page
Qcrew BBQ Catering Co.
Financing Criteria Page
Thank you for considering QCrew for financing!
We are going to be looking to obtain financing within the next couple of months and are looking to partner with a funder who understands our needs and can make us an offer that will address them. To that end, there is some information below that I would ask you to read and understand, and then follow the instructions for reaching out to us.
If you follow the instructions lead below, I can make you a personal promise that I will respond to you, even if we decide not to accept your offer.
PLEASE NOTE: if you do not address our needs in the way we ask, then we will have no further contact with you and block any communications.
Ed Dixon
Qcrew Catering
Who are we at Qcrew Catering?
We have been around for 17 years as a barbeque caterer in central NJ and developed a very strong brand. All you need to do is search for “QCrew BBQ” and read our reviews. We sell- funded until 2019 when we took out our first SBA loan help with the purchase of some equipment. Then things got rough in 2020 for three years during the pandemic. We stayed around but 35%+of those people in our business disappeared. We did get some government money to help and that made a difference.
Why we are looking for Financing
Coming out of the pandemic we figured we would just continue that way, but it turned out that many of the people who worked in our industry, went and decided to do other things. Prior to the pandemic we had operated as an eight month business, because barbeque catering is a really big thing in New Jersey between May and October and we had nice Christmas sales… But we would do 80 to 85% of our revenue in those months, usually between $1.1 -1.4 million. During the winter months, many of our people went on unemployment found other jobs, etc.… However, after the pandemic we found we could not keep people employed unless we could give them full year employment and so we decided to try the retail route by opening up our QCrew outpost this January.
That was where we took out the Ondeck loan and the second SBA loan, but the MCA loan was probably a mistake because it was a high APR and as you’ll see from the info I put below. It’s a sizeable portion to pay each month… That loan will finish up in December and we could probably gut it out till then, but it’s not allowing us to grow the way we need to.
Our Financing needs
We would like to be able to both reduce our monthly payments and be able to pay down our debt more quickly as we increase revenues. So our needs would be one or more of the following:
A line of credit of $50-$100,000 with a reasonable rate and no pay down penalties.
An SBA loan that can help us consolidate our debt at a more reasonable rate, again with no pay down penalties
Some type of term payment instrument that has a lower interest rate than we’re paying now and can easily be paid off without penalty
There may be other options were not aware of, and if someone proposes them in a way that shows how they address our needs, then we would look seriously at them.
How to make us an offer
We would ask you to respond with your offer in a way that specifically addresses the needs that we outlined above and how it would help us to address them. The more detail your response is the more likely it is that we will consider it seriously. Please do not ask for a phone conversation yet to get more information, if you have questions you can put them to us in the offer, but we believe the information that we provide Here and at the links above should be enough for you to craft a basic offer for us to consider.
Send your offer to: qcrewfinancing@gmail.com
This is the ONLY way to make us an initial offer.
IF YOU CONTACT US ANY OTHER WAY (PHONE, TEXT, OTHER EMAIL, ETC,) WE WILL BLOCK YOU AND REFUSE ANY FURTHER CONTACT