What are the quarterly payment amounts for the $1,200,000 note payable for Amerispec Inspection Services?
Amerispec_Inspection_Services Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | |
|---|---|---|
| Note payable of $1,200,000, due in quarterly payments of $42,857, | 1,200,000 | - |
| including interest of 6% per annum, maturing November 2031. | ||
| Future maturities of notes payable as of December 31, 2024 are as follows: | ||
| 2025 | $ 821,429 | |
| 2026 | 821,429 | |
| 2027 | 171,429 | |
| 2028 | 171,429 | |
| 2029 | 5,451,660 | |
| Thereafter | 342,856 $ 7,780,232 |
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. These payments are each $42,857, and include interest of 6% per annum. The note matures in November 2031.
This information is relevant to prospective franchisees as it provides insight into the financial obligations of Amerispec Inspection Services. Understanding the company's debt structure can help potential franchisees assess the financial stability of the franchisor.
The future maturities of this note payable as of December 31, 2024, are also detailed in the FDD. $821,429 is due in both 2025 and 2026, $171,429 is due in each of 2027 and 2028, $5,451,660 is due in 2029, and $342,856 is due thereafter. This breakdown gives a clear picture of the company's repayment schedule for this particular note.