When is the first installment due for the loan associated with Aunt Millies Bakeries?
Aunt_Millies_Bakeries Franchise · 2025 FDDAnswer from 2025 FDD Document
dditions to or of the foregoing; and c) all cash or non-cash proceeds (including insurance proceeds) of the foregoing.
CONSIGNEE/CONSIGNOR NON- UCC FILING This FINANCING STATEMENT is to be filed (for record)(or recorded in the REAL 7. Check to REQUEST REPORTS(S) on Debtor(s) All Debtors Debtor 1 Debtor 2 ESTATE RECORDS Attach addendum (if applicable) (ADDITIONAL FEE) 8. OPTIONAL FILER REFERENCE DATA
Exhibit J(4) Financing Documents with Distribution Services of America, Inc. Loan Proceeds Disbursement Authorization
LOAN PROCEEDS DISBURSEMENT AUTHORIZATION
| I, DISTRIBUTOR'S CORPORATE NAME, | hereby authorize and acknowledge the | |--------------------------------------------------------------------
Source: Item 23 — RECEIPT (FDD pages 44–196)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the excerpt does not specify the exact due date for the first installment of a loan associated with Aunt Millies Bakeries. However, Item 23 includes an authorization for disbursement of loan proceeds related to a promissory note. This authorization form includes fields for the distributor's corporate name, the effective date of the note, and the amounts disbursed to Perfection Bakeries, Inc. (d/b/a Aunt Millie's) for a down payment and route purchase price, as well as a loan administration fee to Distribution Services of America, Inc.
The document also mentions a Financing Security Agreement, which outlines the borrower's covenant to pay the obligations secured by the agreement according to its terms. While the FDD does not provide the specific date for the first loan installment, it does highlight the existence of a promissory note and the borrower's obligation to adhere to its payment terms.
A prospective Aunt Millies Bakeries franchisee should carefully review the promissory note and Financing Security Agreement to understand the exact repayment schedule, including the due date for the first installment. It would be prudent to discuss these terms with the franchisor and any involved financing institutions to fully understand the financial obligations.