Does Chem Dry receive payment from any person for the placement of financing with a third-party lender?

According to Chem Dry's 2024 Franchise Disclosure Document, Chem Dry does not receive payment from any person for the placement of financing with a third-party lender. However, Chem Dry may provide financing for up to 40% of the Initial License Fee portion of the Initial Fee to franchisees who meet Chem Dry's credit standards.

For franchisees who receive financing from Chem Dry, the interest rate on the Business Note will be set between 8% and 15%, depending on Chem Dry's underwriting standards. As a condition of receiving financing from Chem Dry, franchisees must make a non-refundable Initial License Fee down payment when signing the Franchise Agreement and Business Note. The balance will be paid to Chem Dry in consecutive monthly payments until paid in full.

Chem Dry may choose to sell or assign the Business Note to a third party. If this occurs, the franchisee may be barred from asserting a defense against the assignee that they could assert against Chem Dry. If the Franchise Agreement is terminated, Chem Dry has the right to declare all obligations owed under the Business Note immediately due and payable, and the franchisee will be subject to court costs and attorneys' fees for the collection of such amounts if not paid promptly.