When does the $1,200,000 note payable mature for Amerispec Inspection Services?
Amerispec_Inspection_Services Franchise · 2025 FDDAnswer from 2025 FDD Document
is collateralized by substantially all of the Company's assets. Interest varies with the bank's prime rate, which was 7.38% and 8.15% at December 31, 2024 and 2023, respectively, and is payable monthly.
Note 9. Notes Payable
The Company's notes payable consisted of the following as of December 31:
| 2024 | 2023 | |
|---|---|---|
| Note payable to a financial institution of $5, |
Source: Item 23 — Receipts (FDD pages 47–172)
What This Means (2025 FDD)
According to the 2025 FDD, Amerispec Inspection Services has a note payable of $1,200,000 that is due in quarterly payments of $42,857, including interest of 6% per annum. This note payable matures in November 2031.
This information is relevant to potential franchisees as it provides insight into the financial obligations of Amerispec Inspection Services. Understanding the company's debt structure can help franchisees assess the financial stability and overall health of the franchisor.
Prospective franchisees may want to inquire about the details of these notes payable, including the interest rates, repayment terms, and any collateral involved. This information can help them evaluate the financial risk associated with investing in an Amerispec Inspection Services franchise.