Kirstin’s Story

Kirstin Wiegmann, Reverie Mobile Kitchen
Minneapolis, MN

Estimated loss in income - We recently decided to fully close, and we are losing around $130,000 monthly in projected revenue. We are experiencing deep uncertainty about what is to come, what we can do, what we are supposed to do, what we should do. To stay in business on the short term we need increased sales or help to pay for our operating costs ($15,000 per month), and to keep paying our staff, whether through assistance or unemployment benefits (typical payroll is $38,000 per month). This is without pay for the owners. To stay in business in the long term we will need all of these things plus low or no interest loans to help with the debt we are incurring during this period. 

Now that we are temporarily closed we need help with our overhead, long term debt relief of some sort, and assurance that our staff will have access to the resources they need. After that a lot will depend on the length of the closure.

As a new business, only 3 months old, we have a significant amount of debt and now we have no way to pay this off. This debt is a mixture of short term and long term debt. Though our business was going really well and we were extremely optimistic one week ago, we now have no clear way to pay this debt off which might be the hardest part about thinking long term right now. If we were able to convert our short term debt, about $70,000 to long term debt with low or no interest rate we would feel more secure making future-thinking moves. Of course this number is set to rise in the coming days and weeks.