What was the total long-term debt for Boulder Designs at December 31, 2024?
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 payable on demand with an aggregate balance of $248,000 and $255,000, respectively. One note bears interest at a rate of 4% and the other two notes do not have a stated interest rate.
(5) Long-Term Debt
Long-term debt at December 31, 2024 and 2023 consists of the following:
| 2024 | 2023 | ||
|---|---|---|---|
| Note payable to a finance company that matures in | |||
| July 2025 with no stated interest rate and monthly | _ | ||
| payments of $1,399; secured by |
Source: Item 23 — RECEIPT (FDD pages 50–217)
What This Means (2025 FDD)
According to Boulder Designs' 2025 Franchise Disclosure Document, the total long-term debt at December 31, 2024, was $585,701. This debt is broken down into several categories, including a note payable to a finance company with monthly payments of $1,399 maturing in July 2025, a note payable to the Small Business Administration with monthly payments of $1,226 maturing in June 2052, and notes payable under various terms for the acquisition of franchise rights.
Of this total long-term debt, $13,971 is classified as current installments, representing the portion of the debt due within the next year. The remaining $571,730 is considered long-term debt, excluding current installments.
Prospective franchisees should carefully review the terms and conditions of Boulder Designs' long-term debt, including interest rates, maturity dates, and any collateral requirements, to fully understand the company's financial obligations. Understanding the debt structure can provide insights into the financial stability and future obligations of Boulder Designs.