Isla Vida, one of San Francisco’s only Afro-Caribbean restaurants, is teetering on the verge of collapse.

Financial woes have plagued the business at 1325 Fillmore St. since it opened in October, according to co-owner Matthew Washington. It opened three months after originally planned, so the company had to begin paying rent before revenue started coming in. Meanwhile, the restaurant also ran into delays in obtaining its beer and wine license — a problem because sales of alcohol can be a boon to profit margins. It also just isn’t getting the number of diners needed to stay afloat, Washington said.

To address the problems, the restaurant has launched an Indiegogo campaign with a “flexible goal” of $65,000. The money will be used to pay rent and operating costs and to fund the implementation of a self-sufficient delivery service for the restaurant, Washington said.

Though many restaurants, including Isla Vida, have held Indiegogo campaigns to open, it’s less common to use them to keep a place in business. Often, they represent a last-ditch effort for a place to remain operational.

When Isla Vida opened in October, it and Kaya in Mid-Market represented an injection of new life into the city’s languishing Caribbean restaurant scene. But due to a myriad of issues, Kaya closed this month.

Meanwhile, Isla Vida is facing some of the same issues that forced the building’s previous tenant, barbecue restaurant Black Bark, out of the neighborhood. Foot traffic in the area is light, Washington said, and though the consensus among diners and critics is the food at Isla Vida is among the city’s best, dining numbers remain relatively low.

“What it boils down to is we want to stay in the Fillmore but right now, we just don’t have the money we need for that to happen,” Washington said.

Isla Vida operates more like a fast food restaurant, with an emphasis on counter service and delivery orders, and the business model has shown it can work, Washington said.

“The funds just aren’t here right now,” he added.

Securing funds from the community isn’t new to the Isla Vida team. The operation has functioned on a shoestring budget since its debut, which was made possible through an Indiegogo campaign in 2018.

Isla Vida co-owner Jay Foster is known for operating Farmer Brown, the 13-year-old soul food spot that closed in the Tenderloin last year. Business waned over its last few months, making the venture untenable for Foster and his team, which included Washington.

When asked what will happen if the fundraiser fails to generate enough money, Washington said the restaurant will have to close.

“Sometimes I worry black-owned businesses in the city are going to turn into relics,” Washington said. “It reminds me of how when (Grammy-nominated rapper) Nipsey Hussle was killed, all of the sudden everyone became a fan. We have to ask ourself as a community, are we a proactive people or a reactive people?”

Justin Phillips is a San Francisco Chronicle staff writer. Email: jphillips@sfchronicle.com Twitter: @JustMrPhillips