What was the face amount of the note payable with a bank for Bambu as of December 31, 2023?
Bambu Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | |
|---|---|---|
| Note payable with a bank. Face Amount $179,970, interest | 179,970 | |
| at 8.25% per year, payment in 84 installments of $2,838. | ||
| Collateralized by the assets of the Company and the | ||
| personal guaranty of the managing member of the | ||
| Company. |
Source: Item 23 — Receipts (FDD pages 52–209)
What This Means (2025 FDD)
According to Bambu's 2025 Franchise Disclosure Document, the face amount of the note payable with a bank as of December 31, 2023, was $179,970. The interest rate for this note was 8.25% per year, with payments structured in 84 installments of $2,838.
This note is collateralized by the assets of the company and the personal guaranty of the managing member of the company. This means that in the event of default, the bank has a claim on the company's assets and the personal assets of the managing member.
Prospective franchisees should be aware of Bambu's debt obligations, as these can impact the financial stability of the company. It is important to review the company's financial statements carefully and understand the terms of any notes payable. Franchisees may want to inquire about the purpose of the loan and how it is being used to support the franchise system.