What is the annual interest rate for the $25,000 note payable with a member for Bambu?
Bambu Franchise · 2025 FDDAnswer from 2025 FDD Document
17,783 | | 2028 | | 22,139 | | 2029 | | 27,451 | | Thereafter | | 74,584 $ 220,329 | | | | |
NOTE 5-NOTES PAYABLE-MEMBERS
Notes payable - members consist of the following at December 31,
| 2024 | 2023 | |
|---|---|---|
| Note payable with managing member. Face Amount | $ 247,933 | $ |
| $250,000 interest at 10% per year, payment in | ||
| 84 | ||
| installments of $4, 150. Not collateralized. | ||
| Note payable with |
Source: Item 23 — Receipts (FDD pages 52–209)
What This Means (2025 FDD)
According to Bambu's 2025 Franchise Disclosure Document, in 2024, there was a note payable with a member with a face amount of $25,000. This note carried an interest rate of 10% per year. Payments were structured in 36 installments of $581, based on a 60-month amortization schedule. The note was uncollateralized.
This information is relevant to prospective franchisees as it provides insight into the financial obligations and debt structure that Bambu has undertaken. Understanding the terms of these notes, such as interest rates and payment schedules, can help franchisees assess the financial health and stability of the company. It also gives them a basis for comparison when evaluating their own potential financing options and obligations.
It's important to note that this data reflects the financial situation as of 2024. While this gives an idea of the company's past financial dealings, prospective franchisees should inquire about the current debt structure and any changes that may have occurred since the last financial year. This ensures they have the most up-to-date information for making informed decisions.