What is the monthly payment amount for the note payable to a finance company for Boulder Designs?
Boulder_Designs Franchise · 2025 FDDAnswer from 2025 FDD Document
greements in the amount of $563,824 and $576,824, respectively, consist of franchise rights previously sold by the Company that were repurchased due to various circumstances with the intent to resale. An impairment loss of $28,000, $30,000, and $30,000 was charged to operations during 2024, 2023, and 2022, respectively.
(4) Notes Payable
Notes payable at December 31, 2024 and 2023 includes three notes paya
Source: Item 23 — RECEIPT (FDD pages 50–217)
What This Means (2025 FDD)
According to Boulder Designs' 2025 Franchise Disclosure Document, the company has a note payable to a finance company. This note matures in July 2025 and carries no stated interest rate. The monthly payments for this note are $1,399, and it is secured by certain equipment.
As of December 31, 2024, the outstanding balance on this note was $13,971, while it was $33,553 in 2023. This indicates that Boulder Designs has been making payments on this note, reducing the principal over time.
For a prospective franchisee, this information is relevant because it provides insight into the financial obligations of Boulder Designs. Understanding the franchisor's debt structure can help potential franchisees assess the financial stability of the company. It's also worth noting that the note is secured by equipment, which means the finance company has a claim on those assets if Boulder Designs defaults on the loan.