What was the aggregate balance of the demand notes payable for Boulder Designs as of December 31, 2023?

According to Boulder Designs' 2025 Franchise Disclosure Document, the aggregate balance of notes payable on demand as of December 31, 2023, was $255,000. These notes payable consist of three separate notes. One of these notes bears interest at a rate of 4%, while the other two do not have a stated interest rate.

This information is relevant to potential Boulder Designs franchisees because it provides insight into the company's financial obligations. Notes payable on demand are short-term liabilities that Boulder Designs must be prepared to repay at any time the lender demands. The interest rate on one of the notes indicates the cost of borrowing for Boulder Designs, while the absence of stated interest rates on the other two may suggest different lending terms or relationships.

Prospective franchisees should consider the implications of these liabilities on Boulder Designs' overall financial health and stability. Understanding the terms and conditions of these notes payable, including the identities of the lenders and the potential for changes in interest rates, is crucial for assessing the financial risks associated with investing in a Boulder Designs franchise. It is also worth noting that $90,000 of the notes payable is due to an officer of the company, which represents a related party transaction.