To whom will Aunt Millies Bakeries forward the monthly loan payments and insurance premiums?
Aunt_Millies_Bakeries Franchise · 2025 FDDAnswer from 2025 FDD Document
If you enter into a financing agreement with First Capital, you will authorize us to deduct, from any sums owed to you as a result of the weekly settlement of your account, an amount sufficient to meet your monthly loan payment. We will also deduct an amount sufficient to pay, on a monthly basis, your insurance premium (if purchased through the program made available by Allstate Insurance or by Christine & Mullen Insurance Group, a third party vendor). We will forward these monthly payments directly to First Capital and insurance company in a timely manner. See Purchase of Receivables included as Exhibit B(4) to this Franchise Disclosure Document.
Source: Item 10 — FINANCING (FDD pages 21–24)
What This Means (2025 FDD)
According to Aunt Millies Bakeries's 2025 Franchise Disclosure Document, if a franchisee enters into a financing agreement with First Capital, Aunt Millies Bakeries will deduct the monthly loan payment from the franchisee's account settlement. Aunt Millies Bakeries will also deduct the insurance premium on a monthly basis if the franchisee purchases insurance through Allstate Insurance or Christine & Mullen Insurance Group. Aunt Millies Bakeries will then forward these payments directly to First Capital and the insurance company.
This arrangement streamlines the payment process for franchisees who opt for the financing and insurance options offered through Aunt Millie's Bakeries's affiliated programs. By deducting the payments directly from the franchisee's account settlement, Aunt Millies Bakeries ensures timely payments to First Capital and the insurance providers.
It is important for prospective franchisees to understand that this payment forwarding service is contingent upon using the specific financing and insurance programs mentioned in the FDD. If a franchisee chooses alternative financing or insurance options, they will be responsible for managing those payments independently.