When did the note receivable secured by real estate in Louisiana mature for Apricot Lane?
Apricot_Lane Franchise · 2025 FDDAnswer from 2025 FDD Document
er 31, 2023 and 2022 of $627,500 and $1,170,500 respectively.
| Note receivable, due in three installments, secured | $ | 369,842 | $ | 369,842 | |
|---|---|---|---|---|---|
| by certain real estate located in Louisiana, matured | |||||
| January 15, 2019 bearing interest at 9%. This note | |||||
| is in default. | |||||
| Note receivable, due in twenty-three monthly installments beginning in March, 2018, and matured in February, 2020, secured by certain real estate located in Louisiana, |
Source: Item 23 — RECEIPTS (FDD pages 51–222)
What This Means (2025 FDD)
According to Apricot Lane's 2025 Franchise Disclosure Document, one note receivable secured by real estate in Louisiana matured on January 15, 2019. This note was due in three installments and bore an interest rate of 9%. The original amount of this note receivable was $369,842. The FDD indicates that this particular note is currently in default.
Additionally, there was another note receivable secured by real estate in Louisiana that matured in February 2020. This note was due in twenty-three monthly installments beginning in March 2018 and also bore interest at 9%. The original amount of this note was $737,692, and it is also currently in default.
These notes receivable represent money owed to Apricot Lane, and the fact that both are in default suggests potential financial risks for the company. Prospective franchisees should inquire about the circumstances surrounding these defaulted notes and what measures Apricot Lane is taking to recover the funds. Understanding the financial health and stability of the franchisor is crucial for making an informed investment decision.