What was the outstanding balance of the $2,281,413 term loan for Aunt Millies Bakeries in 2023?
Aunt_Millies_Bakeries Franchise · 2025 FDDAnswer from 2025 FDD Document
--------------------------------|---------|--------------------------|----|--------------------------| | $8,000,000 term loan, payable in monthly installments of $95,238 beginning June 1, 2021 through Marc
Source: Item 23 — RECEIPT (FDD pages 44–196)
What This Means (2025 FDD)
According to Aunt Millies Bakeries's 2025 Franchise Disclosure Document, the $2,281,413 term loan had an outstanding balance of $2,091,565 in 2023. This loan is payable in monthly installments of $38,605, starting March 1, 2023, and continuing through February 1, 2028. The effective interest rate as of September 30, 2023, was 6.94%.
This information is relevant for prospective franchisees as it provides insight into the debt obligations of Aunt Millies Bakeries. Understanding the company's financial obligations can help franchisees assess the financial stability of the franchisor. The term loan's interest rate and repayment schedule offer a glimpse into the company's financing terms and its ability to manage debt.
It's important to note that the document also lists other debt arrangements, including a promissory note and another term loan, each with its own terms and conditions. Reviewing all debt arrangements can provide a comprehensive view of Aunt Millies Bakeries's financial leverage and obligations. Franchisees should consider these factors when evaluating the overall financial health of the franchise system.