When does the Truist loan repayment begin for Burneys Sweets More?
Burneys_Sweets_More Franchise · 2025 FDDAnswer from 2025 FDD Document
gust 2029.
Notes Payable - Truist loan in the amount of $46,742 is payable beginning January 2021 and payable in 72 monthly payments of $711 including interest of 2.99%. Proceeds were for purchase of vehicle which is listed as collateral. Final payment expected Dec
Source: Item 23 — RECEIPT (FDD pages 50–199)
What This Means (2025 FDD)
According to the 2025 Burneys Sweets More Franchise Disclosure Document, the Truist loan repayment began in January 2021. The loan amount was $46,742, and it is payable in 72 monthly installments of $711, which includes interest at a rate of 2.99%.
The proceeds from the Truist loan were used to purchase a vehicle, which is listed as collateral for the loan. The final payment for this loan is expected to be made in December 2026.
This information is relevant to prospective Burneys Sweets More franchisees as it provides insight into the franchisor's financial obligations and how they manage debt. Understanding the franchisor's financial health can help franchisees assess the stability and reliability of the franchise system.