Once you are up and running, are you the type that just wants to do the job or are you open to putting in adjustable efforts to reduce costs, make business improvements, and increasing margins?

For the last 15 years our industry and business has been handling a very large growth in regulatory burdens. We` have had to completely redo our operation from what it was 20 or 30 years ago. In 2011 the whole fishery management changed again to a new system (catch share management) which brought a prospect of long term planning and management. We are constantly looking for improvements in our fishing gear efficiency, quality of product improvements and new market opportunities. That is ...

WHAT IS THE MINIMUN DEBT INVESTMENT IN THIS PROJECT

You can invest as little as $100

I have a strong affinity for what you’re doing and am considering a five figure investment. What debt do you currently have that may be considered Senior Indebtedness within the terms of the note? It sounds like any commercial, venture, etc debt that you take on after your fun...

First, let me thank you for your interest and your consideration in investing in our venture. We really appreciate it. Currently we do not hold any debt or loan and we do not anticipate taking on any additional loans, if this fundraiser is successful. Once we are operational, we fully expect to be able to sustain our business by fishing the boat.

Also, what is the FMV of the vessel and equipment that is being offered to secure this loan?

Until the boat is completely finished, we cannot provide a completed survey to evaluate it. The replacement value of the vessel is around 200-300K, but the vessel or its equipment are not used as a security for this loan. I hope this answered your question. Thank you again.

5 Years ago you were quoted in this article that it is impossible to earn a living with the system that is in effect. Jeremiah O'Brien and his wife, Trudy, on their boat in Morro Bay. “The catch share system is probably the worst thing that ever happened to the fishing industr...

Dear Sir, Thank you for your interest in the history of our industry and our business. While I do not really see you asking a specific question about our venture, I will try to address the article you are pointing out. Our industry went through two decades of dramatic changes. In the year 2000 there were about 300 permits and boats in our west coast ground fish fishery. The fishery and its management had been under great stress with long lines of lawsuits over supposed inadequate protection o...

San Giovanni Updates, Team, and Funding Progress | Wefunder, Home of the Community Round

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Projected $400K to $750K in revenue each year, $240K in yearly expenses.

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Capable of $20,000 worth of fish in a three-day trip.

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One of 120 boats in the Certified Sustainable West Coast Groundfish Trawl Fishery.

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Third-generation family business.

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70-foot wooden boat, 75 years old.

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The F/V San Giovanni LLC owns California State Halibut trawl permit and lease for Federal Limited Entry Trawl permit. These two permits allow the boat operate all year round without seasonal restrictions.

San Giovanni

Iconic commercial fishing vessel delivering fresh seafood in Monterey since 1959

$59,933

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San Giovanni

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$59,933

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