Until what date is the EIDL loan payable to the SBA for Bb.Q Chicken?
Bb_Q_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
| Loan payable to parent company with an annual interest rate of 4.6%, payable on December 31, 2026 | $1,300,000 |
|---|---|
| Loan payable to parent company with an annual interest rate of 4.6%, | $ 700,000 |
| payable on December 31, 2026 | |
| EIDL loan payable to SBA with an annual interest rate of 3.75% | $ 144,454 |
| Payable through May 29, 2050 | |
| Loan payable to Woori America Bank, with an annual interest rate of | $ 358,331 |
| 7.75 % Payable through July 01, 2029 | |
| – | |
| variable interest rate |
Current portion is $70,337 as of December 31, 2024.
The loan payable to the parent company is set to renew automatically without limitation upon expiration, according to the loan agreement.
Source: Item 23 — RECEIPTS (FDD pages 62–283)
What This Means (2025 FDD)
According to Bb.Q Chicken's 2025 Franchise Disclosure Document, the EIDL loan payable to the SBA has an annual interest rate of 3.75% and is payable through May 29, 2050. The loan amount is listed as $144,454 in one instance and $147,742 in another.
This information is relevant to prospective franchisees as it provides insight into the financial obligations and liabilities that Bb.Q Chicken currently holds. Understanding the franchisor's debt structure can help franchisees assess the financial stability of the company.
The discrepancy in the loan amount ($144,454 vs. $147,742) could be due to timing differences in when the data was compiled for the FDD. It is important for potential franchisees to verify the most current and accurate financial information during their due diligence process. Knowing the repayment terms, such as the interest rate and the final payment date, allows franchisees to understand the long-term financial commitments of Bb.Q Chicken.