When does Anago's line of credit with the bank mature?
Anago Franchise · 2025 FDDAnswer from 2025 FDD Document
le assets, net consist of a trademark with a cost of $184,000 and the related accumulated amortization as of December 31, 2024, 2023, and 2022 of $154,356, $142,089, and $129,822, respectively. During the years ended December 31, 2024, 2023, and 2022 amortization expense totaled $12,267, $12,267, and $12,267, respect
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 line of credit agreement with a bank that has borrowing limits up to $200,000. The interest rate on this line of credit is 6.25%. This line of credit is secured by a majority of Anago's assets.
The line of credit matures in June 2025. As of December 31, 2024, 2023, and 2022, the balance on this line of credit was $-0-. This indicates that Anago had no outstanding balance on the line of credit as of those dates.
For a prospective franchisee, this information provides insight into Anago's financial management and its relationship with lending institutions. The fact that the line of credit was unused in the recent past could be seen as a positive sign of financial stability. However, it is important to note that the line of credit is collateralized by a majority of the company's assets, which could have implications in the event of financial distress.