factual

What is the maximum interest rate Bang Cookies can charge in California?

Q: What is the maximum interest rate Bang Cookies can charge in California?

- 5. Item 6 "Other Fees," is supplemented by the addition of the following statement: "The highest interest rate allowed by law in the State of California is 10%." Source: Item 23 — RECEIPTS (FDD pages 56–245)

Bang_Cookies Franchise · 2024 FDD

Answer from 2024 FDD Document

1. Item 6 "Other Fees," is supplemented by the addition of the following statement: "The highest interest rate allowed by law in the State of California is 10%."

Source: Item 23 — RECEIPTS (FDD pages 56–245)

What This Means (2024 FDD)

According to Bang Cookies' 2024 Franchise Disclosure Document, the maximum interest rate allowed by law in the State of California is 10%. This disclosure is part of an amendment to Item 6, "Other Fees," within the FDD.

For a prospective Bang Cookies franchisee in California, this means that any fees or charges that accrue interest cannot exceed a 10% annual interest rate. This is a legal protection for franchisees, ensuring that Bang Cookies cannot impose excessively high interest rates on outstanding balances or debts.

It is important for potential franchisees to understand this limit, as it can affect the overall cost of operating the franchise. Franchisees should consult with legal counsel to fully understand their rights and obligations under California law, especially concerning fees and interest rates.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.

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