When is the final payment expected for the Truist loan for Burneys Sweets More?

According to Burneys Sweets More's 2025 Franchise Disclosure Document, a Truist loan in the amount of $46,742 is payable beginning January 2021. The loan is structured with 72 monthly payments of $711, which includes interest at a rate of 2.99%. The proceeds from the loan were used to purchase a vehicle, which is listed as collateral for the loan. The final payment for this Truist loan is expected in December 2026.

This information is relevant to prospective franchisees as it provides insight into the financial obligations and debt management of Burneys Sweets More. Understanding the terms of existing loans, such as the interest rate and repayment schedule, can help potential franchisees assess the financial stability and practices of the company. Knowing that a vehicle serves as collateral also indicates the types of assets Burneys Sweets More uses to secure financing.

It is important for potential franchisees to review the complete financial statements and notes within the FDD to gain a comprehensive understanding of Burneys Sweets More's financial health. This includes examining all outstanding debts, lease obligations, and other financial commitments. Consulting with a financial advisor is recommended to fully evaluate the financial implications of investing in a Burneys Sweets More franchise.