What are the future maturities of long-term debt for 360 Painting in 2025?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
| ---------- | ----------------- | ---- | ----------- |
|---|---|---|---|
| Prepaid commissions | $ 7,881,145 | $ | 7,062,651 |
| Notes receivable | 7,429 | 34,628 | |
| Total other long-term assets | $ 7,888,574 | $ | 7,097,279 |
8. Long-term Debt
Long-term debt consisted of the following as of December 31, 2024 and 2023:
| 2024 | 2023 | |
|---|---|---|
| Term loan | $ 11,864,500 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
Based on the 2025 FDD, the future maturities of long-term debt for 360 Painting are detailed as of December 31, 2024. The components of the long-term debt include term loans, delayed draw term loans, and revolving loans.
Specifically, as of December 31, 2024, the term loan amount was $11,864,500, the delayed draw term loans totaled $8,140,875, and the revolving loans amounted to $1,200,000. The total debt was $21,205,375, but after deducting the current portion ($609,375) and unamortized deferred loan costs ($159,339), the long-term debt, net, was $20,436,661.
These figures provide a snapshot of 360 Painting's debt obligations and how they are structured. For a prospective franchisee, understanding the maturity schedule of these debts is crucial in assessing the financial stability and obligations of the franchisor. This information is essential for evaluating the overall financial health and risk associated with investing in a 360 Painting franchise.