What is the amount of the monthly installments for the Caring Senior Service note?
Caring_Senior_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
ich is recorded as Short-term advance from related party in the balance sheet.
Note Payable from Related Party
The Partnership received a $200,000 loan from an entity owned and operated by a partner of the Partnership on August 16, 2023. Terms include 240 monthly payments of $1,208 beginning June
Source: Item 23 — RECEIPTS (FDD pages 53–204)
What This Means (2025 FDD)
According to the 2025 FDD, Caring Senior Service's Partnership received a $200,000 loan from an entity owned and operated by a partner of the Partnership on August 16, 2023. The loan terms require 240 monthly payments of $1,208, which began on June 1, 2024. The note bears interest at 4% and is unsecured. As of December 31, 2024, the loan balance was $196,130.
This means that a portion of Caring Senior Service's financial obligations includes repaying this loan with fixed monthly payments. The fact that the loan is from a related party (an entity owned by a partner) suggests a close financial relationship within the organization.
For a prospective franchisee, this information provides insight into the financial structure and obligations of the Caring Senior Service franchise partnership. Understanding these related-party transactions and debt obligations can help a franchisee assess the financial stability and management practices of the franchisor.