What is the annual interest rate on the Bevaris Alliance company credit card?
Bevaris_Alliance Franchise · 2024 FDDAnswer from 2024 FDD Document
lopment Costs at December 31, 2023 and 2022 are presented as follows:
| 2023 | 2022 | |
|---|---|---|
| Deferred franchise development costs | $ 73,279 | $ 73,279 |
| Less - accumulated amort |
Source: Item 23 — RECEIPT (FDD pages 22–88)
What This Means (2024 FDD)
According to the 2024 FDD, Bevaris Alliance maintains a company credit card with an aggregate credit limit of $20,000. The annual interest rate on this credit card is 25.99%. As of December 31, 2023, the balance due on the credit card was $5,997, and as of December 31, 2022, the balance was $2,924.
This information is relevant to prospective franchisees as it provides insight into the financial management and obligations of Bevaris Alliance. Understanding the interest rate and credit card balance can help potential franchisees assess the financial health and practices of the company. It also gives an idea of the potential costs associated with borrowing and managing finances within the Bevaris Alliance system.
It's important to note that this is the interest rate on the company's credit card, not necessarily the rate a franchisee would receive on their own business credit card. However, it can serve as a benchmark for understanding the general credit environment and the rates Bevaris Alliance is subject to. Franchisees should inquire about any specific financial arrangements or support offered to franchisees regarding credit and financing.