What was the total amount of revolving loans held by 360 Painting in 2024?
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 foll
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to 360 Painting's 2025 Franchise Disclosure Document, the company held $1,200,000 in revolving loans in 2024. This figure is part of the company's overall debt, which totaled $21,205,375 in 2024. In comparison, 360 Painting did not have any revolving loans in 2023.
The presence of revolving loans indicates that 360 Painting has access to a line of credit that it can draw upon as needed. This type of financing can provide flexibility for managing cash flow and funding short-term needs. However, it also adds to the company's debt burden and requires careful management to avoid over-reliance on credit.
Prospective franchisees should consider 360 Painting's debt levels and financing arrangements as part of their due diligence. Understanding how the company manages its debt and utilizes financing can provide insights into its financial stability and long-term prospects. It is also worth noting that the financial statements provided are for Premium Service Brands, LLC and Subsidiaries, which is an affiliate of 360 Painting, LLC.