What is the interest rate per annum on the Bevaris Alliance line of credit?
Bevaris_Alliance Franchise · 2024 FDDAnswer from 2024 FDD Document
,107) | | Deferred franchise development costs - net | $ 52,517 | $ 67,172 |
Amortization expense for 2023 and 2022 were $14,656 and $6,107, respectively.
5. CREDIT CARD PAYABLE:
The Company maintains a credit card with a credit card provider. The aggregate credit limit for this credit card is $20
Source: Item 23 — RECEIPT (FDD pages 22–88)
What This Means (2024 FDD)
According to the 2024 FDD, Bevaris Alliance maintains a line of credit with a finance company. The line of credit is in the amount of $40,000. The interest rate on this line of credit is 59.9% per annum.
During 2023, Bevaris Alliance had advances of $2,000 and payments of $1,000 on the line of credit. As of December 31, 2023, the outstanding balance on the line of credit was $1,000.
This information is relevant to potential franchisees as it provides insight into the financial obligations and credit management practices of Bevaris Alliance. Understanding the interest rate and activity on the line of credit can help franchisees assess the financial stability and potential risks associated with the franchise.