Can the Note associated with a Bumble Roofing franchise be prepaid?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
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- Maker may prepay this Note in whole or in part at any time or from time to time without penalty or premium by paying the principal amount to be prepaid together with accrued interest thereon the date of payment
Source: Item 23 — RECEIPT (FDD pages 53–188)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, a franchisee has the option to prepay the Promissory Note, either in full or partially, at any given time. This can be done without incurring any penalties or premiums.
To prepay the note, the franchisee needs to pay the principal amount that is intended to be prepaid, along with the accrued interest on that principal up to the date of the prepayment. This provides flexibility for franchisees who may have the financial means to reduce their debt obligations early.
This prepayment option benefits Bumble Roofing franchisees by allowing them to manage their finances more effectively and potentially save on interest payments over the life of the loan. It also gives franchisees the opportunity to reduce their financial risk and increase their equity in their business sooner.