What is the date range during which the monthly installments are due for the Aunt Millies Bakeries loan?
Aunt_Millies_Bakeries Franchise · 2025 FDDAnswer from 2025 FDD Document
During September 2022, the Company entered into a $441,475 promissory note with a related party, SOBO Leasing, LLC, which is payable in monthly installments of $8,535 and due September 30, 2027.
During February 2023, the Company entered into two equipment term loans, payable in monthly installments of $38,605 and $5,489 beginning March 1, 2023 and July 1, 2023, respectively.
Source: Item 23 — RECEIPT (FDD pages 44–196)
What This Means (2025 FDD)
The 2025 Aunt Millies Bakeries FDD discusses debt arrangements the company has made, but it does not specify the exact due dates for monthly installment payments that a franchisee might owe. However, the document does mention the company's debt arrangements, including a term loan that required monthly principal payments of $95,238 beginning June 1, 2021. This loan was later amended in May 2024 to extend the maturity date, while the monthly principal payments continued.
Additionally, the FDD mentions a promissory note with SOBO Leasing, LLC, which is payable in monthly installments of $8,535 and due September 30, 2027. There are also equipment term loans payable in monthly installments, with varying amounts and maturity dates.
While these examples provide insight into the types of debt arrangements Aunt Millies Bakeries has, the FDD does not provide the specific date range for monthly installments that a franchisee would be responsible for. To get this information, a prospective franchisee should ask Aunt Millies Bakeries directly about the payment terms, including due dates and any potential changes to those terms.