What is the monthly installment amount for the $441,475 promissory note for Aunt Millies Bakeries?
Aunt_Millies_Bakeries Franchise · 2025 FDDAnswer from 2025 FDD Document
edit facility from stockholders up to a maximum of approximately $7,700,000. The subordinated revolving credit facility does not have a maturity date and is therefore presented as current on the consolidated balance sheets. The subordinated revolving credit facility bears interest at 5.00% to 6.00%. Borrowings on the subordinated revolving credit facility were $2,740,852 and $2,452,450 as of September 30, 2023 and 2022, respectively.
The table below reflects the Company's long-term debt at September 30, 2023 and 2022:
| $441,475 promissory note, payable in monthly installment of $8,535 beginning November 1, 2022 through September 30, 2027. The interest rate at September 30,
Source: Item 23 — RECEIPT (FDD pages 44–196)
What This Means (2025 FDD)
According to Aunt Millies Bakeries's 2025 Franchise Disclosure Document, a $441,475 promissory note is payable in monthly installments of $8,535. These payments began on November 1, 2022, and continue through September 30, 2027. The interest rate as of September 30, 2023, was 6.00%.
For a prospective Aunt Millies Bakeries franchisee, this indicates the potential financing terms associated with acquiring a distributorship. The monthly installment amount of $8,535 provides a clear picture of the ongoing financial obligation a franchisee would need to manage if they secured a similar promissory note. This information is crucial for assessing the affordability and cash flow implications of such a loan.
The repayment schedule, spanning from November 2022 to September 2027, offers insight into the duration of the financial commitment. Understanding the interest rate, which was 6.00% as of September 2023, is also important for evaluating the overall cost of borrowing. Franchisees should note that interest rates are subject to change, and the rate specified is only accurate as of the date listed.
It is important for potential franchisees to consult with financial advisors to fully understand the terms and conditions of any promissory notes offered by Aunt Millies Bakeries or its affiliates. They should also inquire about current interest rates and any potential fluctuations that could affect their monthly payments.