Chef Jeff Catering
A purpose-driven company, Chef Jeff is a minority-owned, multi-generational family catering business that is committed to reshaping the food service industry with extreme grace and boundless generosity. Chef Jeff provides a safe and sober kitchen for persons transitioning out of incarceration or treatment. It also has a community garden that provides Chef Jeff with fresh produce and a connection to the community as they nurture and harvest together. In May 2024, Chef Jeff launched a grab-and-go marketplace. Nestled in a food desert, the marketplace also offers free comfort meals to anyone in need, whether they are facing hunger or heartache. Further, Chef Jeff is piloting a culinary arts training program that is set to launch officially in 2025. And finally, Chef Jeff’s vision includes launching a disadvantaged entrepreneur program that showcases their products in the marketplace.
Venn’s PRI capital provides Chef Jeff with concessionary working capital that assists it in acquiring two transportation vans, adding employees and completing the build out of its marketplace space. The PRI capital will further enable Chef Jeff to position itself for further growth and attract financing from conventional sources at reasonable rates.
Recipient Name: Catering, LLC d/b/a Chef Jeff Catering
Corporate Form: Minnesota Limited Liability Company
Entrepreneurs: Jeff Riley and Amber Stewart (Riley)
Investment Sought: Up to $350,000
Amount Raised to Date: $155,000
Overview of Investment Terms:
6-Year Unsecured Loan
Accrues Simple Interest at 3% Annually
Payment Terms
Year 1: Annual, interest-only payment
Year 2: Annual, interest plus 10% principal
Year 3: Annual, interest plus 15% principal
Years 4-6: Annual, interest plus 25% principal