What is the interest rate on the note receivable that Anago has with a related entity by common ownership?
Anago Franchise · 2025 FDDAnswer from 2025 FDD Document
dditional tax liability nor does it believe that there are any unrealized tax benefits that would either increase or decrease within the next year. It is the Company's policy to recognize any interest and penalties in operating expenses. The federal and state tax returns for the Company for 2024, 2023 and 2022, are subject to examination by the Internal Revenue Service ("IRS") and state authorities.
Cash Flow Information
Cash
Source: Item 23 — RECEIPTS (FDD pages 62–298)
What This Means (2025 FDD)
According to Anago's 2025 Franchise Disclosure Document, the company has a note receivable with a related entity by common ownership. The total value of the note is $529,500, and it bears an interest rate of 2.94%.
The principal balance and accrued interest are due in May 2038. Because of the due date, Anago considers the note receivable a long-term asset on its consolidated balance sheets.
As of December 31, 2024, 2023, and 2022, the balance on this particular note receivable remained constant at $529,500 for each of those years.