On what page can I find information about Interest related to Bevaris Alliance?
Bevaris_Alliance Franchise · 2024 FDDAnswer from 2024 FDD Document
The Company maintains a credit card with a credit card provider. The aggregate credit limit for this credit card is $20,000. Interest on the credit card is 25.99% per annum. The balance due at December 31, 2023 and 2022 is $5,997 and $2,924, respectively.
The Company maintains a line of credit in the amount of $40,000 with a finance company. Interest on the line of credit is 59.9% per annum. Line of credit activity during 2023 included advances of $2,000 and payments of $1,000. As of December 31, 2023, the outstanding balance on the line of credit was $1,000.
Source: Item 23 — RECEIPT (FDD pages 22–88)
What This Means (2024 FDD)
According to the 2024 Bevaris Alliance FDD, information regarding interest can be found on the page containing Item 23, specifically within the "Notes to Financial Statements."
The document details that Bevaris Alliance maintains a 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 outstanding balance was $5,997, and as of December 31, 2022, the balance was $2,924.
Additionally, Bevaris Alliance has a line of credit of $40,000 with a finance company, carrying an interest rate of 59.9% per annum. During 2023, advances of $2,000 were made, and payments of $1,000 were applied to the line of credit. The outstanding balance on this line of credit as of December 31, 2023, was $1,000. These figures are important for prospective franchisees to understand the financial obligations and interest expenses Bevaris Alliance is subject to.