What is the interest rate on the note payable for Anago?
Anago Franchise · 2025 FDDAnswer from 2025 FDD Document
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NOTE F - PROPERTY AND EQUIPMENT, NET
Property and equipment, net consist of the following as of December 31, 2024, 2023, and 2022:
| Closed-in mutual funds | are investments which invests funds through | single public offerings. These funds are |
|---|---|---|
| valued based on quote | prices on the last trading date of the principal | mar |
Source: Item 23 — RECEIPTS (FDD pages 62–298)
What This Means (2025 FDD)
According to Anago's 2025 Franchise Disclosure Document, the note payable with a bank has an interest rate of 5.50%. The note required monthly payments of principal and interest totaling $2,194 through April 2023. The note payable is collateralized by a majority of the assets of the Company. As of December 31, 2022, the balance on the note payable was $29,137.
This information is from Note H in the FDD, which provides details on the company's financial obligations. It's important to note that this specific note payable required monthly payments through April 2023, so it may no longer be active. However, it gives insight into the terms Anago has secured in the past.
A prospective franchisee should inquire whether this note has been paid off and if Anago anticipates securing similar financing in the future. Understanding the terms of Anago's debt can provide a better picture of the company's financial health and its ability to support franchisees.