Case Study
Catering and food truck company founded in 2015.
Milestones included structuring the corporation/assets to reduce liability and distribute risk, the preparation and submission of tax returns for 2015-18, implementation of accounting package, development and implementation of Debt Service Coverage Ratio (DSCR), purchase of new vehicles, currently seeking commercial property as base for central kitchen.
Our client is a minority-owned catering and food truck company. Upon graduating from the culinary academy at LATTC, he purchased a food truck and negotiated a permanent spot at a prominent local brewery. Fast growth and increasing opportunities led to new vehicles and a well-received catering operation. Upon beginning our engagement in 2016, we focused on structuring the corporation and formalizing operations. In 2016 we facilitated an SBA-guaranteed loan of $150,000 to upgrade commercial kitchen, add vehicles, and negotiate terms with vendors. From a one-person operation in 2015, the company grew to 3 food trucks and 7 employees by the end of 2018.