What was the total amount of Card My Yard's revolving credit facility in 2024?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
$28,000,000, to be used for acquisitions which occurred in 2021, as well as amounts available for future transactions as follows: (1) up to an aggregate of $15,000,0
Source: Item 23 — RECEIPTS (FDD pages 84–259)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, the company had a revolving credit facility with available draws up to $2,000,000. As of December 31, 2024, Card My Yard had drawn $1,100,000 from this facility.
This means that Card My Yard had access to a line of credit that it could borrow from, up to a maximum of $2,000,000. As of the end of 2024, the company had already borrowed $1,100,000 of that amount. The availability of such a credit facility can be important for a franchisor as it provides financial flexibility to manage its operations and growth.
For a prospective franchisee, this information provides insight into the financial management and stability of Card My Yard. Knowing the extent to which Card My Yard utilizes its credit facilities can help a franchisee assess the financial health of the company. It is common for franchisors to utilize credit facilities to fund various aspects of their business operations, and the terms and usage of these facilities can be indicative of the franchisor's financial strategy.