What is the unpaid balance due date for the note payable to Mercedes-Benz for Apricot Lane?
Apricot_Lane Franchise · 2025 FDDAnswer from 2025 FDD Document
| Small Business Administration economic injury disaster loan, payable at $2,437 per month, including interest at 3.75%. Unpaid balance due April, 2051. Payment on this note began on June 1, 2022. Secured by UCC on all Company assets. | $ 500,000 |
|---|---|
| Note payable to Genesis Finance, secured by a certain vehicle, payable at $1,170 per month, including interest at 4.49%. Unpaid balance due on July 23, 2029. | 69,244 |
| Note payable to Mercedes-Benz, secured by a certain vehicle, payable at $1,11 |
Source: Item 23 — RECEIPTS (FDD pages 51–222)
What This Means (2025 FDD)
According to Apricot Lane's 2025 Franchise Disclosure Document, the note payable to Mercedes-Benz, which is secured by a vehicle, has an unpaid balance due on August 29, 2029. The monthly payment for this note is $1,116, which includes interest at a rate of 8.04%. The total amount of this note is $60,787.
This information is relevant for prospective Apricot Lane franchisees as it provides insight into the brand's existing financial obligations. Understanding the franchisor's debt structure can help franchisees assess the financial stability of the company. Knowing the due dates and payment amounts associated with these notes payable offers a glimpse into the company's cash flow management and long-term financial planning.
It is important to note that this is just one aspect of Apricot Lane's financial health. A prospective franchisee should conduct thorough due diligence, including reviewing the complete financial statements and seeking professional financial advice, to gain a comprehensive understanding of the franchisor's financial position and its potential impact on the franchisee's business.