What interest rate will Canopy Lawn Care franchisees pay on the promissory note?
Canopy_Lawn_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
quity Lease Agreement.
IN WITNESS WHEREOF, Lessor and Lessee have duly executed this Master Equity Lease Agreement as of the day and year first above written.
LESSOR: Enterprise FM Trust LESSEE: Enterprise Fleet Management, Inc. its attorney in fact Ву: Ву: Address: Address: Date Signed:, Date Signe ed:,
EXHIBIT I
CANOPY FRANCHISE CORPORATION
PROMISSORY NOTE
[$AMOUNT] Date: [DATE]
FOR VALUE RECEIVED, the u
Source: Item 23 — RECEIPT (FDD pages 55–199)
What This Means (2025 FDD)
According to Canopy Lawn Care's 2025 Franchise Disclosure Document, the interest rate on the promissory note is determined by the information provided in Exhibit I. The franchisee will pay interest from the date of the note at the rate of INTEREST RATE% per annum. The specific interest rate is not provided but will be found in the Franchise Agreement.
This means that the actual interest rate will be determined at the time the agreement is established. It is important for a prospective franchisee to carefully review Exhibit I of the Franchise Agreement to understand the exact interest rate they will be paying on the promissory note, as this will impact the total cost of borrowing.
Prospective franchisees should consider this interest rate when evaluating the overall financial feasibility of the Canopy Lawn Care franchise. They should also compare this rate to other financing options available to them to ensure they are getting the best possible terms. It is also important to understand the conditions under which the interest rate could change, such as in the event of a default.