rcc pro forma - january 23, 2014 revision

8/13/2019 RCC Pro Forma - January 23, 2014 Revision

1/16

SOURCES AND USES

Fund Usage Amount Fund Sources Amount

Long Term Capitalization Equity

Leasehold Improvements $0 Memberships 75,000$Equipment $650,000 Grassroots Fundraising 25,918$

Inventory $236,250 Grants from local & regional foundations 260,000$

Prof Fees for design/inventory $106,350 City of GSO Econ Dev't Grant 100,000$

Construction Management fee $0 Federal grants (USDA, SBA, Block grants) 200,000$

Total Long Term $992,600 Total Equity 660,918$

Short Term Capitalization Subordinated debt

Pre-Opening Membership/Fundraising 50,000$ 5 Year Owner Loans @ 3% 100,000$

Start-up staffing 92,116$ 10 Year Owner Loans @3% 100,000$Start-up promotion 18,390$ CFGG Loan @2.5% 50,000$

Interest paid pre-opening (owner loans) 3,750$ Total Subordinated Loans 250,000$

Post-opening professional support 30,000$

Operating cost prior to opening 15,000$ Government loans

Operatiing Capital (Cash) 220,681$ City of GSO Econ Dev't Loan (0%, 15 years) 600,000$

Total Short Term 429,937$ Total Government Loans 600,000$

Overrun allowance 213,381$ CDFI Loans

CDFI Loan ($125,000 @ 6.75%) 125,000$Total Capital Needed 1,635,918$ Total CDFI Loans 125,000$

EQUITY 660,918$

TOTAL TO BE BORROWED 975,000$ TOTAL BORROWED 975,000$

Assumptions from other sheets

Building Space Square Footage 10,000 From revenue model

First year sales 3,678,022$ From revenue model

Assumptions Data Source

Leasehold Improvements 35.00$ per total square foot S Reid/vanilla box

Sales Floor square footage 67 5% of total square footage S Reid


2/16

RCC Year 1 Income Statement

Month of Operation 1 2 3 4 5 6 7 8 9

Month Name November December January February March April May June July

Number of Weeks 4.29 4.43 4.43 4.00 4.43 4.29 4.43 4.29 4.43

Revenue Schedule

Gross sales 197,802$ 238,462$ 272,527$ 276,923$ 340,659$ 329,670$ 340,659$ 329,670$ 340,659$

Cost of goods sold 139,846$ 168,592$ 192,677$ 195,785$ 240,846$ 233,077$ 240,846$ 233,077$ 240,846$

Shrink 5,024$ 6,057$ 6,922$ 7,034$ 8,653$ 8,374$ 8,653$ 8,374$ 8,653$

Net Gross Profit 52,932$ 63,812$ 72,928$ 74,105$ 91,160$ 88,220$ 91,160$ 88,220$ 91,160$

Labor

Wages & Salary: Production Staff 27,587$ 32,307$ 36,108$ 34,330$ 38,008$ 36,782$ 38,008$ 36,782$ 38,008$

Wages & Salary: Admin Staff 12,804$ 13,230$ 13,230$ 11,950$ 13,230$ 12,804$ 13,230$ 12,804$ 13,230$

Payroll Taxes - Production employees 2,938$ 3,441$ 3,845$ 3,656$ 4,048$ 3,917$ 4,048$ 3,917$ 4,048$

Payroll taxes - Admin employees 1,364$ 1,409$ 1,409$ 1,273$ 1,409$ 1,364$ 1,409$ 1,364$ 1,409$

Workers Comp - Production employees 690$ 808$ 903$ 858$ 950$ 920$ 950$ 920$ 950$

Workers Comp - Admin Employees 128$ 132$ 132$ 120$ 132$ 128$ 132$ 128$ 132$

Benefits - FT production employees 3,000$ 3,000$ 3,000$ 3,000$ 3,000$ 3,000$ 3,000$ 3,000$ 3,000$

Benefits - FT admin employees 1,250$ 1,250$ 1,250$ 1,250$ 1,250$ 1,250$ 1,250$ 1,250$ 1,250$

Total Labor 49,759$ 55,577$ 59,878$ 56,437$ 62,028$ 60,164$ 62,028$ 60,164$ 62,028$

Variable expenses

Advertising 2,631$ 3,172$ 3,625$ 3,683$ 4,531$ 4,385$ 4,531$ 4,385$ 4,531$

Repairs 198$ 238$ 273$ 277$ 341$ 330$ 341$ 330$ 341$

Maintenance 593$ 715$ 818$ 831$ 1,022$ 989$ 1,022$ 989$ 1,022$

Bad Debt/Bank Charges 396$ 477$ 545$ 554$ 681$ 659$ 681$ 659$ 681$

Supplies 2,176$ 2,623$ 2,998$ 3,046$ 3,747$ 3,626$ 3,747$ 3,626$ 3,747$

Credit Card Charges 2,534$ 3,055$ 3,491$ 3,547$ 4,364$ 4,223$ 4,364$ 4,223$ 4,364$

Miscellaneous Expenses 593$ 715$ 818$ 831$ 1,022$ 989$ 1,022$ 989$ 1,022$

Total Variable Expenses 9,121$ 10,995$ 12,566$ 12,769$ 15,708$ 15,201$ 15,708$ 15,201$ 15,708$

Fixed expenses

Rent 9,167$ 9,167$ 9,167$ 9,167$ 9,167$ 9,167$ 9,167$ 9,167$ 9,167$

Electric 750$ 750$ 750$ 750$ 750$ 750$ 750$ 750$ 750$

HVAC 2,000$ 2,500$ 2,500$ 2,200$ 1,500$ 800$ 1,200$ 1,500$ 1,500$

Phone 150$ 150$ 150$ 150$ 150$ 150$ 150$ 150$ 150$

Water & Sewer 100$ 100$ 100$ 100$ 100$ 100$ 100$ 100$ 100$

Pest Control 80$ 80$ 80$ 80$ 80$ 80$ 80$ 80$ 80$

Commercial Trash Removal 100$ 100$ 100$ 100$ 100$ 100$ 100$ 100$ 100$

Month of Start-up


3/16

RCC Year 1 Income Statement

NET INCOME AFTER TAXES

Labor as a % of sales 25% 23% 22% 20% 18% 18% 18% 18% 18%

Cost of goods sold (before shrink) 70.7%Shrink 2.54%

Payroll Taxes 10.65% of wages

Workers Compensation (Risky) 0.025

Workers Compensation (Non-Risky) 0.01

Employee health benefits $3,000 per FT employee/year

credit card fee rate 0.03

% of credit card usage 0.4

Sales Tax 0.0675

Capital Depreciation 20 years

Equipment Depreciation 10 yearsIncome Tax 0.4

Advertsing &marketing costs 1.33% of sales

Repairs 0.1% of sales

Maintenance 0.3% of sales

Bad debt/Bank Charges 0.2% of sales

Supplies 1.1% of sales

Miscellaneous 0.3% of sales

Rent $11.00 psf

Square footage $10,000.00 square feet

Assumptions


4/16

5-Year Income Statement

1 2 3 4 5 Cumulative % of sales

Revenue Schedule

Gross sales 3,678,022$ 3,935,484$ 4,210,967$ 4,505,735$ 4,821,137$ 21,151,344$ 100.00%

Cost of goods sold 2,600,362$ 2,782,387$ 2,977,154$ 3,185,555$ 3,408,544$ 14,954,001$ 70.70%Shrink 93,422$ 99,961$ 106,959$ 114,446$ 122,457$ 537,244$ 2.54%

Net Gross Profit 984,239$ 1,053,135$ 1,126,855$ 1,205,735$ 1,290,136$ 5,660,100$ 26.76%

Labor

Wages & Salary: Production Staff 430,719$ 452,255$ 452,255$ 452,255$ 452,255$ 2,239,738$ 10.59%

Wages & Salary: Admin Staff 155,777$ 160,450$ 165,264$ 170,221$ 175,328$ 827,040$ 3.91%

Payroll Taxes - Production employees 45,872$ 48,165$ 50,573$ 53,102$ 55,757$ 253,469$ 1.20%

Payroll taxes - Admin employees 16,590$ 17,088$ 17,601$ 18,129$ 18,672$ 88,080$ 0.42%

Workers Comp - Production employees 10,768$ 11,091$ 11,424$ 11,766$ 12,119$ 57,169$ 0.27%Workers Comp - Admin Employees 1,558$ 1,605$ 1,653$ 1,702$ 1,753$ 8,270$ 0.04%

Benefits - FT production employees 36,000$ 37,080$ 38,192$ 39,338$ 40,518$ 191,129$ 0.90%

Benefits - FT admin employees 15,000$ 15,450$ 15,914$ 16,391$ 16,883$ 79,637$ 0.38%

Total Labor 712,283$ 743,184$ 752,875$ 762,905$ 773,286$ 3,744,532$ 17.70%

Variable expenses

Advertising 48,918$ 50,385$ 51,897$ 53,454$ 55,057$ 259,711$ 1.23%

Repairs 3,678$ 3,788$ 3,902$ 4,019$ 4,140$ 19,527$ 0.09%

Maintenance 11,034$ 11,365$ 11,706$ 12,057$ 12,419$ 58,581$ 0.28%

Bad Debt/Bank Charges 7,356$ 7,577$ 7,804$ 8,038$ 8,279$ 39,054$ 0.18%Supplies 40,458$ 41,672$ 42,922$ 44,210$ 45,536$ 214,798$ 1.02%

Credit Card Charges 47,115$ 48,529$ 49,985$ 51,484$ 53,029$ 250,142$ 1.18%

Miscellaneous Expenses 11,034$ 11,365$ 11,706$ 12,057$ 12,419$ 58,581$ 0.28%

Total Variable Expenses 169,594$ 174,681$ 179,922$ 185,319$ 190,879$ 900,395$ 4.26%

Fixed expenses

Rent 110,000$ 113,300$ 116,699$ 120,200$ 123,806$ 584,005$ 2.76%

Electric 9,000$ 9,270$ 9,548$ 9,835$ 10,130$ 47,782$ 0.23%

HVAC 19,000$ 19,570$ 20,157$ 20,762$ 21,385$ 100,874$ 0.48%

Phone 1,800$ 1,854$ 1,910$ 1,967$ 2,026$ 9,556$ 0.05%Water & Sewer 1,200$ 1,236$ 1,273$ 1,311$ 1,351$ 6,371$ 0.03%

Pest Control 960$ 989$ 1,018$ 1,049$ 1,080$ 5,097$ 0.02%

Commercial Trash Removal 1,200$ 1,236$ 1,273$ 1,311$ 1,351$ 6,371$ 0.03%

Insurance - Inclusive (R&D & liability etc.) 3,000$ 3,090$ 3,183$ 3,278$ 3,377$ 15,927$ 0.08%

Interest on Debt 15,246$ 15,083$ 13,814$ 12,475$ 11,060$ 67,678$ 0.32%

Year of operation of Start-up


5/16

Year 1 Cash Flow Analysis

1 2 3 4 5 6 7 8 9 10

Starting Cash 220,681$ 205,665$ 195,211$ 189,573$ 188,852$ 200,296$ 211,363$ 223,106$ 233,473$ 244,917$

Sources

Cash Sales 197,802$ 238,462$ 272,527$ 276,923$ 340,659$ 329,670$ 340,659$ 329,670$ 340,659$ 340,659$

Rental Income -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Short-term Loan Proceeds -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Long-Term Loan Proceeds -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Equity Capital Proceeds -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Souces 197,802$ 238,462$ 272,527$ 276,923$ 340,659$ 329,670$ 340,659$ 329,670$ 340,659$ 340,659$

Uses

Payroll & Related 49,759$ 55,577$ 59,878$ 56,437$ 62,028$ 60,164$ 62,028$ 60,164$ 62,028$ 62,028$

Cost of Goods Sold + Shrink 144,870$ 174,649$ 199,599$ 202,818$ 249,499$ 241,451$ 249,499$ 241,451$ 249,499$ 249,499$

Rent 9,167$ 9,167$ 9,167$ 9,167$ 9,167$ 9,167$ 9,167$ 9,167$ 9,167$ 9,167$ Utilities 3,000$ 3,500$ 3,500$ 3,200$ 2,500$ 1,800$ 2,200$ 2,500$ 2,500$ 2,500$

Pest Control & Trash 180$ 180$ 180$ 180$ 180$ 180$ 180$ 180$ 180$ 180$

Insurance 250$ 250$ 250$ 250$ 250$ 250$ 250$ 250$ 250$ 250$

Interest 1,307$ 1,301$ 1,294$ 1,287$ 1,281$ 1,274$ 1,267$ 1,261$ 1,254$ 1,247$

Professional services 800$ 800$ 800$ 800$ 800$ 800$ 800$ 800$ 800$ 800$

Other Fixed expenses 650$ 650$ 650$ 650$ 650$ 650$ 650$ 650$ 650$ 650$

Purchase Depreciable Assets -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Purchase Non-Depr. Assets -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Dividends, Owner Pay-outs -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Debt Principle Payments 2,835$ 2,841$ 2,848$ 2,855$ 2,861$ 2,868$ 2,875$ 2,882$ 2,889$ 2,895$

Total Uses Before Taxes 212,819$ 248,915$ 278,166$ 277,644$ 329,216$ 318,604$ 328,916$ 319,304$ 329,216$ 329,216$

Income Taxes -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Total Uses After Taxes 212,819$ 248,915$ 278,166$ 277,644$ 329,216$ 318,604$ 328,916$ 319,304$ 329,216$ 329,216$

Net Change in Cash (15,016)$ (10,454)$ (5,638)$ (721)$ 11,444$ 11,067$ 11,744$ 10,367$ 11,444$ 11,444$

Ending Cash Position 205,665$ 195,211$ 189,573$ 188,852$ 200,296$ 211,363$ 223,106$ 233,473$ 244,917$ 256,360$

Net Change in Cash before Interest & Debt Pmt (10,874)$ (6,311)$ (1,496)$ 3,421$ 15,586$ 15,209$ 15,886$ 14,509$ 15,586$ 15,586$

Debt service coverage -2.63 -1.52 -0.36 0.83 3.76 3.67 3.84 3.50 3.76 3.7

Month of Start-up


6/16

Five-year Cash Flow Analysis

1 2 3 4 5

Starting Cash 220,681$ 279,371$ 361,149$ 502,153$ 707,050$

Sources

Cash Sales 3,678,022$ 3,935,484$ 4,210,967$ 4,505,735$ 4,821,137$Rental Income -$ -$ -$ -$ -$

Short-term Loan Proceeds -$ -$ -$ -$ -$

Long-Term Loan Proceeds -$ -$ -$ -$ -$

Equity Capital Proceeds -$ -$ -$ -$ -$

Total Souces 3,678,022$ 3,935,484$ 4,210,967$ 4,505,735$ 4,821,137$

Uses

Payroll & Related 712,283$ 743,184$ 752,875$ 762,905$ 773,286$

Cost of Food/Products Sold 2,693,783$ 2,882,348$ 3,084,112$ 3,300,000$ 3,531,000$

Rent 110,000$ 113,300$ 116,699$ 120,200$ 123,806$

Utilties 31,000$ 31,930$ 32,888$ 33,875$ 34,891$

Pest Control & Trash 2,160$ 2,225$ 2,292$ 2,360$ 2,431$

Insurance 3,000$ 3,090$ 3,183$ 3,278$ 3,377$

Interest 15,246$ 15,083$ 13,814$ 12,475$ 11,060$

Professional Services 9,600$ 9,888$ 10,185$ 10,490$ 10,805$

Other Fixed Expenses 7,800$ 8,034$ 8,275$ 8,523$ 8,779$

Purchase Depreciable Assets -$ -$ -$ -$ -$Purchase Non-Depr. Assets -$ -$ -$ -$ -$

Dividends, Owner Pay-outs -$ -$ -$ -$ -$

Debt Principle Payments 34,461$ 44,623$ 45,642$ 46,731$ 47,896$

Total Uses Before Taxes 3,619,333$ 3,853,705$ 4,069,964$ 4,300,838$ 4,547,331$

Income Taxes -$ -$ -$ -$ 24,202$

Total Uses After Taxes 3,619,333$ 3,853,705$ 4,069,964$ 4,300,838$ 4,523,129$

Net Change in Cash 58,689$ 81,779$ 141,003$ 204,897$ 298,007$

Ending Cash Position 279,371$ 361,149$ 502,153$ 707,050$ 1,005,057$

Net Change in Cash before Interest & Debt Pmt 108,395$ 141,485$ 200,459$ 264,104$ 356,964$

Debt servcie coverage 2.18 2.37 3.37 4.46 6.05

Summary Cash Flow Analysis


7/16

DepartmentsCut Out Sales

Gross

ProfitShrink Net Gross Profit Payroll

Grocery 40.0% 28,292.48$ 24.0% 6,790$ 1.0% 283$ 6,507$ 23.0% 2.5% 712$ $Frozen/Dairy 16.0% 11,316.99$ 26.0% 2,942$ 1.0% 113$ 2,829$ 25.0% 7.5% 850$ $

HABA/GM 4.0% 2,829.25$ 30.0% 849$ 5.0% 141$ 707$ 25.0% 6.0% 170$ $

Meat 18.0% 12,731.61$ 30.0% 3,819$ 4.0% 509$ 3,310$ 26.0% 7.7% 983$ $

Deli, Hot Foods & Catering 6.0% 4,243.87$ 40.0% 1,698$ 6.0% 255$ 1,443$ 34.0% 16.3% 690$ $

Seafood 5.0% 3,536.56$ 35.0% 1,238$ 3.0% 106$ 1,132$ 32.0% 11.5% 406$ $

Bakery 3.0% 2,121.94$ 40.0% 849$ 5.0% 106$ 743$ 35.0% 23.6% 500$ $

Produce 8.0% 5,658.50$ 45.0% 2,546$ 5.0% 283$ 2,263$ 40.0% 15.0% 850$ $

100.0% 70,731$ 29.3% 20,731$ 2.540% 1,797$ 18,935$ 26.8% 7.3% 5,160$

Front End, Janitorial, Security 3.2% 2,268$ $Management, bookkeeper, Community Manager 4.2% 2,988$ $

14.7% 10,415$ $

Variable Expenses

Payroll taxes 1,214$ 1.72%

Workers Comp 190$ 0.27%

Employee benefits 504$ 0.71% starts 6 months in for full time employees =$2,000 per employee for full year

Advertising 1,023$ 1.45%

Repairs 77$ 0.11%Maintenance 231$ 0.33%

Bad Debt/Bank Charges 154$ 0.22%

Supplies 846$ 1.20%

Credit Card Charges 985$ 1.39%

Miscellaneous Expenses 231$ 0.33%

Total Variable Expenses 5,455$ 7.71%

Fixed Expenses

Rent 2,115$ 3.0% $11 psf for 10,000 sq ft.

Insurance 58$ 0.1%Depreciation 1,363$ 1.9% *Based on $650,000 equipment package with 10 year depreciation

Pest & Trash 42$ 0.1%

Electric, HVAC & Phone 601$ 0.8%

Taxes & Licenses 93$ 0.1%

Professional Fees 186$ 0.3%

$


8/16

EMPLOYEE WORKSHEET

Hourly or Production Employees

Employee

Numbers

Wages Per

Hour

Hours Per

Week Total/Week

Total Per

Month

Total Per

Year

Total

Hours/DeptFront End Manager- (f/t) 1 $10.50 35 $368 $1,593 $19,110

Checkout - (f/t) 2 $10.00 30 $600 $2,600

Checkout - (p/t) 4 $10.00 20 $800 $3,467 $41,600

Checkout /Floor Total 7 175.00

Dairy/Frozen Manager (f/t) 1 $14.00 35 $490 $2,123 $25,480

Dairy/Frozen Clerks (p/t) 2 $10.00 20 $400 $1,733 $20,800

Dairy/Frozen Total 3 75.00

Produce Dept. Manager (f/t) 1 $14.00 35 $490 $2,123 $25,480

Produce Clerks (p/t) 2 $10.00 20 $400 $1,733 $20,800

Produce Total 3 75.00

Grocery Manager (f/t) 1 $14.00 35 $490 $2,123 $25,480

Grocery Clerks (p/t) 2 $10.00 20 $400 $1,733 $20,800

Grocery Total 3 75.00

Butcher/ Meat Dept. Mgr. (f/t) 1 $18.00 35 $630 $2,730 $32,760

Meat Dept. Staff (p/t) 3 $10.00 20 $600 $2,600 $31,200

Meat Dept Total 4 95.00

Deli Manager (f/t) 1 $14.00 35 $490 $2,123 $25,480

Deli & Meat staff (f/t) 2 $10.00 30 $600 $2,600 $31,200

Deli & Meat staff (p/t) 1 $10.00 20 $200 $867 $10,400

Deli Total (store hrs +2 prep.) 4 115.00

Bakery Staff (f/t) 1 $14.00 37.5 $525 $2,275 $27,300 37.50

Janitorial staff (f/t) 1 $10.00 35 $350 $1,517 $18,200

Janitorial Staff (p/t) 2 $10.00 20 $400 $1,733 $20,800

Janitorial Total 3 75.00

Security Staff (f/t) 1 $10 00 35 $350 $1 517 $18 200

RCC Employment - Weekly Payroll


9/16

DEBT SERVICE

Month of Operation 1 2 3 4 5 6 7 8 9 10 11 12 Annual

Month Name Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct

CDFI Loan - interest 703$ 697$ 690$ 683$ 677$ 670$ 663$ 656$ 650$ 643$ 636$ 629$ 7,996$

CDFI Loan - principal 1,168$ 1,175$ 1,181$ 1,188$ 1,195$ 1,201$ 1,208$ 1,215$ 1,222$ 1,229$ 1,236$ 1,243$ 14,461$

5 Year Owner Loans - Interest 250$ 250$ 250$ 250$ 250$ 250$ 250$ 250$ 250$ 250$ 250$ 250$ 3,000$

5 Year Owner Loans - principal 1,667$ 1,667$ 1,667$ 1,667$ 1,667$ 1,667$ 1,667$ 1,667$ 1,667$ 1,667$ 1,667$ 1,667$ 20,000$

10 Year Owner Loans - interest 250$ 250$ 250$ 250$ 250$ 250$ 250$ 250$ 250$ 250$ 250$ 250$ 3,000$

10 Year owner Loans - principal -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Community Foundation - interest 104$ 104$ 104$ 104$ 104$ 104$ 104$ 104$ 104$ 104$ 104$ 104$ 1,250$

Community Foundation - principal -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

City of Greensboro - interest -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$City of Greensboro - principal -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Monthly interest 1,307$ 1,301$ 1,294$ 1,287$ 1,281$ 1,274$ 1,267$ 1,261$ 1,254$ 1,247$ 1,240$ 1,233$ 15,246$

Monthly principal 2,835$ 2,841$ 2,848$ 2,855$ 2,861$ 2,868$ 2,875$ 2,882$ 2,889$ 2,895$ 2,902$ 2,909$ 34,461$

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13

CDFI Loan - interest $7,996 $7,833 $6,814 $5,725 $4,560 $3,314 $1,981 $0 $0 $0CDFI Loan - principal $14,461 $14,623 $15,642 $16,731 $17,896 $19,142 $20,475 $0 $0 $0

5 Year Owner Loans - Interest 3,000$ 3,000$ 3,000$ 3,000$ 3,000$ $0 $0 $0 $0 $0

5 Year Owner Loans - principal 20,000$ 20,000$ 20,000$ 20,000$ 20,000$ $0 $0 $0 $0 $0

10 Year Owner Loans - interest 3,000$ 3,000$ 3,000$ 3,000$ 3,000$ 3,000$ 3,000$ 3,000$ 3,000$ 3,000$

10 Year owner Loans - principal $0 $0 $0 $0 $0 20,000$ 20,000$ 20,000$ 20,000$ 20,000$

Community Foundation - interest 1,250$ 1,250$ $1,000 $750 $500 $250

Community Foundation - principal $0 $10,000 $10,000 $10,000 $10,000 $10,000

City of Greensboro - interest $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

City of Greensboro - principal $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $60,000 $60,000 $60,000

Annual Interest $15,246 $15,083 $13,814 $12,475 $11,060 $6,564 $4,981 $3,000 $3,000 $3,000 $0 $0 $0

Annual Principal $34,461 $44,623 $45,642 $46,731 $47,896 $49,142 $40,475 $20,000 $20,000 $20,000 $60,000 $60,000 $60,000

Annual Debt Service $49,706 $59,706 $59,456 $59,206 $58,956 $55,706 $45,456 $23,000 $23,000 $23,000 $60,000 $60,000 $60,000

Debt Service year 1

Annual Debt Service years 1-20


10/16

Mortgage Amortization - CDFI Loan

$125,000 $22,456.206.750% $1,871.357 $1,399.682014 $32,193.40November $157,193.40

Year MonthBeginning

BalancePayment Principal Interest

Cumulative

Principal

Cumulative

InterestEnding Balance

Nov $125,000.00 $1,871.35 $1,168.22 $703.13 $1,168.22 $703.13 $123,831.78Dec $123,831.78 $1,871.35 $1,174.80 $696.55 $2,343.02 $1,399.68 $122,656.98

2015 Jan $122,656.98 $1,871.35 $1,181.40 $689.95 $3,524.42 $2,089.63 $121,475.58Feb $121,475.58 $1,871.35 $1,188.05 $683.30 $4,712.47 $2,772.93 $120,287.53

Mar $120,287.53 $1,871.35 $1,194.73 $676.62 $5,907.20 $3,449.55 $119,092.80Apr $119,092.80 $1,871.35 $1,201.45 $669.90 $7,108.65 $4,119.45 $117,891.35May $117,891.35 $1,871.35 $1,208.21 $663.14 $8,316.86 $4,782.59 $116,683.14Jun $116,683.14 $1,871.35 $1,215.01 $656.34 $9,531.87 $5,438.93 $115,468.13Jul $115,468.13 $1,871.35 $1,221.84 $649.51 $10,753.71 $6,088.44 $114,246.29

Aug $114,246.29 $1,871.35 $1,228.71 $642.64 $11,982.42 $6,731.08 $113,017.58Sep $113,017.58 $1,871.35 $1,235.63 $635.72 $13,218.05 $7,366.80 $111,781.95Oct $111,781.95 $1,871.35 $1,242.58 $628.77 $14,460.63 $7,995.57 $110,539.37

YearBeginning

Balance

Payment Principal InterestCumulative

Principal

Cumulative

Interest

Ending

Balance2015 $122,656.98 $22,456.20 $14,623.45 $7,832.75 $16,966.47 $9,232.43 $108,033.532016 $108,033.53 $22,456.20 $15,641.98 $6,814.22 $32,608.45 $16,046.65 $92,391.552017 $92,391.55 $22,456.20 $16,731.10 $5,725.10 $49,339.55 $21,771.75 $75,660.452018 $75,660.45 $22,456.20 $17,896.05 $4,560.15 $67,235.60 $26,331.90 $57,764.402019 $57,764.40 $22,456.20 $19,142.12 $3,314.08 $86,377.72 $29,645.98 $38,622.282020 $38,622.28 $22,456.20 $20,474.94 $1,981.26 $106,852.66 $31,627.24 $18,147.342021 $18,147.34 $18,713.50 $18,147.34 $566.16 $125,000.00 $32,193.40 $0.00

Inputs Key Figures

Loan principal amount Annual loan paymentsBlended annual interest rate Monthly payments

Payments in First 12 Months

Yearly Schedule of Balances and Payments

Loan period in years Interest in first calendar yearBase year of loan Interest over term of loanBase month of loan Sum of all payments

208616397.xlsx.ms_office CDFI Amoritization Schedule


11/16

REVENUE MODEL

Gross Revenue

Month 1 2 3 4 5 6 7 8 9 10 11 12

November December January February March April May June July August September October T

Number of Weeks 4.29 4.43 4.43 4.00 4.43 4.29 4.43 4.29 4.43 4.43 4.29 4.43 5

Sales $197,802 $238,462 $272,527 $276,923 $340,659 $329,670 $340,659 $329,670 $340,659 $340,659 $329,670 $340,659 $3,6

Annual Sales asmp 4,000,000

Weekly Sales at capacity $76,923

1st Month % capacity 60%

2nd Month % capacity 70%

3rd Month % capacity 80%

4th Month % capacity 90%

5th Month % capacity 100%

Projected sales psf $400

Store square Footage 10,000

RCC Month of Start-up

Assumptions


12/16

Over # ofyears Months/year # of months

MonthlyDepreciation

Capital $106,350 20 12 240 $443.13

Equipment $650,000 10 12 120 $5,416.67

Total monthly depreciation $5,859.79

Straight Line Depreciation


13/16


14/16

Mortgage Amortization

$100,000 $21,562.44

3.000% $1,796.875 $1,668.452014 $7,812.20June $107,812.20

Year MonthBeginning


Cumulative

Principal

Cumulative


Jun $100,000.00 $1,796.87 $1,546.87 $250.00 $1,546.87 $250.00 $98,453.13Jul $98,453.13 $1,796.87 $1,550.74 $246.13 $3,097.61 $496.13 $96,902.39

Aug $96,902.39 $1,796.87 $1,554.61 $242.26 $4,652.22 $738.39 $95,347.78

Sep $95,347.78 $1,796.87 $1,558.50 $238.37 $6,210.72 $976.76 $93,789.28Oct $93,789.28 $1,796.87 $1,562.40 $234.47 $7,773.12 $1,211.23 $92,226.88Nov $92,226.88 $1,796.87 $1,566.30 $230.57 $9,339.42 $1,441.80 $90,660.58Dec $90,660.58 $1,796.87 $1,570.22 $226.65 $10,909.64 $1,668.45 $89,090.36

2015 Jan $89,090.36 $1,796.87 $1,574.14 $222.73 $12,483.78 $1,891.18 $87,516.22Feb $87,516.22 $1,796.87 $1,578.08 $218.79 $14,061.86 $2,109.97 $85,938.14Mar $85,938.14 $1,796.87 $1,582.02 $214.85 $15,643.88 $2,324.82 $84,356.12

Apr $84,356.12 $1,796.87 $1,585.98 $210.89 $17,229.86 $2,535.71 $82,770.14May $82,770.14 $1,796.87 $1,589.94 $206.93 $18,819.80 $2,742.64 $81,180.20

Year BeginningBalance

Payment Principal Interest CumulativePrincipal

CumulativeInterest

EndingBalance

2015 $89,090.36 $21,562.44 $19,151.59 $2,410.85 $30,061.23 $4,079.30 $69,938.772016 $69,938.77 $21,562.44 $19,734.15 $1,828.29 $49,795.38 $5,907.59 $50,204.622017 $50,204.62 $21,562.44 $20,334.39 $1,228.05 $70,129.77 $7,135.64 $29,870.232018 $29,870.23 $21,562.44 $20,952.88 $609.56 $91,082.64 $7,745.21 $8,917.362019 $8,917.36 $8,984.35 $8,917.36 $66.99 $100,000.00 $7,812.20 $0.00




Inputs Key Figures

Loan principal amount Annual loan payments

Blended annual interest rate Monthly payments

Long Term Amoritization Schedule


15/16


$100,000 $22,099.80

4.000% $1,841.655 $2,227.162019 $10,499.00June $110,499.00

Year MonthBeginning


Cumulative

Principal

Cumulative


Jun $100,000.00 $1,841.65 $1,508.32 $333.33 $1,508.32 $333.33 $98,491.68Jul $98,491.68 $1,841.65 $1,513.34 $328.31 $3,021.66 $661.64 $96,978.34

Aug $96,978.34 $1,841.65 $1,518.39 $323.26 $4,540.05 $984.90 $95,459.95

Sep $95,459.95 $1,841.65 $1,523.45 $318.20 $6,063.50 $1,303.10 $93,936.50Oct $93,936.50 $1,841.65 $1,528.53 $313.12 $7,592.03 $1,616.22 $92,407.97Nov $92,407.97 $1,841.65 $1,533.62 $308.03 $9,125.65 $1,924.25 $90,874.35Dec $90,874.35 $1,841.65 $1,538.74 $302.91 $10,664.39 $2,227.16 $89,335.61

2020 Jan $89,335.61 $1,841.65 $1,543.86 $297.79 $12,208.25 $2,524.95 $87,791.75Feb $87,791.75 $1,841.65 $1,549.01 $292.64 $13,757.26 $2,817.59 $86,242.74Mar $86,242.74 $1,841.65 $1,554.17 $287.48 $15,311.43 $3,105.07 $84,688.57

Apr $84,688.57 $1,841.65 $1,559.35 $282.30 $16,870.78 $3,387.37 $83,129.22May $83,129.22 $1,841.65 $1,564.55 $277.10 $18,435.33 $3,664.47 $81,564.67



CumulativeInterest

EndingBalance

2020 $89,335.61 $22,099.80 $18,869.95 $3,229.85 $29,534.34 $5,457.01 $70,465.662021 $70,465.66 $22,099.80 $19,638.62 $2,461.18 $49,172.96 $7,918.19 $50,827.042022 $50,827.04 $22,099.80 $20,438.73 $1,661.07 $69,611.69 $9,579.26 $30,388.312023 $30,388.31 $22,099.80 $21,271.43 $828.37 $90,883.12 $10,407.63 $9,116.882024 $9,116.88 $9,208.25 $9,116.88 $91.37 $100,000.00 $10,499.00 $0.00




Inputs Key Figures





16/16


$600,000 $85,714.32

0.000% $7,142.867 $0.002021 $0.24January $600,000.24

Year MonthBeginning


Cumulative

Principal

Cumulative


2021 Jan $600,000.00 $7,142.86 $7,142.86 $0.00 $7,142.86 $0.00 $592,857.14Feb $592,857.14 $7,142.86 $7,142.86 $0.00 $14,285.72 $0.00 $585,714.28Mar $585,714.28 $7,142.86 $7,142.86 $0.00 $21,428.58 $0.00 $578,571.42

Apr $578,571.42 $7,142.86 $7,142.86 $0.00 $28,571.44 $0.00 $571,428.56May $571,428.56 $7,142.86 $7,142.86 $0.00 $35,714.30 $0.00 $564,285.70Jun $564,285.70 $7,142.86 $7,142.86 $0.00 $42,857.16 $0.00 $557,142.84Jul $557,142.84 $7,142.86 $7,142.86 $0.00 $50,000.02 $0.00 $549,999.98

Aug $549,999.98 $7,142.86 $7,142.86 $0.00 $57,142.88 $0.00 $542,857.12Sep $542,857.12 $7,142.86 $7,142.86 $0.00 $64,285.74 $0.00 $535,714.26Oct $535,714.26 $7,142.86 $7,142.86 $0.00 $71,428.60 $0.00 $528,571.40Nov $528,571.40 $7,142.86 $7,142.86 $0.00 $78,571.46 $0.00 $521,428.54Dec $521,428.54 $7,142.86 $7,142.86 $0.00 $85,714.32 $0.00 $514,285.68



CumulativeInterest

EndingBalance

2022 $514,285.68 $85,714.32 $85,714.08 $0.24 $171,428.40 $0.24 $428,571.602023 $428,571.60 $85,714.32 $85,714.32 $0.00 $257,142.72 $0.24 $342,857.282024 $342,857.28 $85,714.32 $85,714.32 $0.00 $342,857.04 $0.24 $257,142.962025 $257,142.96 $85,714.32 $85,714.32 $0.00 $428,571.36 $0.24 $171,428.642026 $171,428.64 $85,714.32 $85,714.32 $0.00 $514,285.68 $0.24 $85,714.322027 $85,714.32 $85,714.32 $85,714.32 $0.00 $600,000.00 $0.24 $0.00




Inputs Key Figures




rcc pro forma - january 23, 2014 revision

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