When did Aw's monthly payments on the SBA loan begin?
Aw Franchise · 2025 FDDAnswer from 2025 FDD Document
was $51,502 and $51,502 respectively. These non-interest-bearing loans are unsecured and due on demand.
6. LOAN PAYABLE SBA
During 2020 the Company obtained a note payable of $25,900 from the US Small Business Administration (SBA). This note is collateralize
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 39)
What This Means (2025 FDD)
According to Aw's 2025 Franchise Disclosure Document, the company obtained a note payable of $25,900 from the US Small Business Administration (SBA) in 2020. The note is collateralized by the company's assets, bearing interest at 3.75% with a term of 30 years.
The FDD states that monthly payments of $120 are scheduled to begin in 2023. This means that Aw began making payments on this SBA loan prior to the 2024 fiscal year.
For a prospective franchisee, this information indicates that Aw has experience securing and managing SBA loans. It also provides insight into the company's financial obligations and how they have been structured. Understanding the terms of Aw's existing loans can help a franchisee assess the financial stability and management practices of the company.