SAN FRANCISCO--(BUSINESS WIRE)--Osito, San Francisco’s only 100% live-fire restaurant, is opening its first permanent location in the Mission District by raising funds through a new online investment platform. Local residents are now able to invest directly in the restaurant’s success by purchasing Small Business Bonds™ on the SMBX marketplace.
“My passion for cooking has allowed me to serve the people and community I love,” said Seth Stowaway, executive chef and owner of Osito. “Helping the community invest in Osito’s continued success through Small Business Bonds gives me another chance to give back.”
Seth Stowaway has a 15-year Bay Area culinary background, including positions on the opening team of Bar Agricole under Chef Brandon Jiu. He was also executive chef of the Bar Agricole Group, running operations at Bar Agricole, Trou Normand and Obispo Rum Bar. Osito’s new Mission District location comes after years of perfecting Chef Stowaway’s 15-course tasting menu, centered around live-fire cooking.
Chef Stowaway’s menu at Osito draws inspiration from the flavors around him – his childhood in Texas, what he experiences in San Francisco’s Mission District, and the bounty of Northern California. Every single item is cooked over a live fire and ingredients are sourced thoughtfully and meticulously from local purveyors and farmers. Aside from Osito’s 52 ticketed seated dinner covers each night, bar seating at Osito’s sister bar, Liliana is also available, featuring cocktails and nostalgic coastal cuisine from the woodfire kitchen.
Residents can purchase Osito’s Small Business Bonds for as little as $10 and begin earning 7.5% interest* through direct monthly payments over 7 years. For example, a $100 investment would yield $128.84 at the end of the term*. A $1,000 investment would yield $1,288 over the same period*. The Bonds can be found at www.thesmbx.com.
The SMBX is a financial marketplace that connects qualified small business owners with everyday investors. By issuing a Small Business Bond™, businesses can borrow money from existing customers and their community at competitive rates, raising the funds needed to expand their business.
*Investing in Reg CF securities includes financial risks, including loss of money invested.
All estimated returns on principal + interests are not guaranteed. The statement is based on the following assumptions: 1) an offering successfully closes and an investor is allocated a Bond or Bonds, 2) that the investor holds their Bonds to maturity and 3) that there are no defaults made by the issuer on any of the Bond payments from issuance to maturity.