What was the face amount of the note payable with the managing member for Bambu in 2024?
Bambu Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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 member. Face Amount $25,000 interest | 24,677 | |
| at 10% per year, payment in 36 installments of $581 on a | ||
| 60 month amortization schedule. Uncollateralized. | 272,610 |
Source: Item 23 — Receipts (FDD pages 52–209)
What This Means (2025 FDD)
According to Bambu's 2025 Franchise Disclosure Document, in 2024, the face amount of the note payable with the managing member was $247,933. This note carried an interest rate of 10% per year.
The repayment terms involved 84 installments of $4,150. Unlike some other notes, this particular note was not collateralized, meaning it was not backed by any specific assets of the company.
Additionally, there was another note payable with a member, distinct from the managing member, with a face amount of $25,000. This note also had a 10% annual interest rate. Payments were structured as 36 installments of $581 on a 60-month amortization schedule, and it was also uncollateralized. These financial details provide insight into Bambu's financing arrangements and relationships with its members.