What is the interest rate on the Acura loan for Burneys Sweets More?
Burneys_Sweets_More Franchise · 2025 FDDAnswer from 2025 FDD Document
ES PAYABLE
Notes Payable - Acura loan in the amount of $37,300 is payable beginning August 2024 and payable in 60 monthly payments of $686 including interest of 3.9%. Collateral is vehicle purchased. Final payment expected A
Source: Item 23 — RECEIPT (FDD pages 50–199)
What This Means (2025 FDD)
According to Burneys Sweets More's 2025 Franchise Disclosure Document, the Acura loan has an interest rate of 3.9%. The loan amount is $37,300, and it is payable in 60 monthly installments of $686, which includes the interest.
The loan repayment commenced in August 2024, with the final payment scheduled for August 2029. The vehicle purchased with the loan serves as collateral.
This information is relevant to potential Burneys Sweets More franchisees as it provides insight into the types of financing arrangements the company has utilized. While this specific loan may not be directly applicable to a new franchisee, it demonstrates the company's approach to financing and asset acquisition. Understanding these financial details can help a prospective franchisee assess the financial stability and practices of Burneys Sweets More.