What document must a franchisee sign to receive financing from Bumble Roofing?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
I have received a disclosure document dated January 28, 2025, that included the following Exhibits:
A Financial Statements
B Franchise Agreement
C List of Franchisees and Franchisees Who Have Left the System
D List of State Agencies and Agents for Service
E State-Specific Addendum
F Operating Manual Table of Contents
G Acknowledgement Addendum
H Promissory Note
I Guarantee of Performance
J State Effective Dates
K Receipts
Source: Item 10 — FINANCING (FDD page 30)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, a franchisee may need to sign a Promissory Note and a Guarantee of Performance to receive financing. These documents are listed as Exhibits H and I, respectively, within the FDD.
The Promissory Note is a formal agreement to repay a debt, outlining the terms and conditions of the loan. The Guarantee of Performance is a commitment from another party (guarantor) to ensure the franchisee fulfills their obligations under the franchise agreement. This provides an additional layer of security for Bumble Roofing.
It is important for prospective Bumble Roofing franchisees to carefully review these documents with a legal and financial advisor to fully understand their obligations and potential liabilities before signing. Understanding the terms of the Promissory Note and Guarantee of Performance is crucial for managing financial risks associated with the franchise investment.