What is the amount of the initial payment for the Chesters North Pole Coffee Express?
Chesters Franchise · 2025 FDDAnswer from 2025 FDD Document
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3291-20240722
Authorized Signature:
EQUIPMENT FINANCE AGREEMENT Agreement No. 1235
DEBTOR:
ADDRESS
NORTH POLE COFFEE EXPRESS
342 NORTHERN LIGHTS BLVD NORTH POLE AK 99705
PAYMENT SCHEDULE: 1 @ $5,000.00, 47 @ $1,432.15
FINANCED AMOUNT: $61,550.01
INTEREST: Payments include interest at 9.00% per annum on the unpaid Financed Amount calculated based on a year consisting of 12 months of 30 days each.
COLLATERAL: Items of equipment, inventory and personal property related thereto as generally described herein which Regions Bank, an Alabama banking corporation d/b/a Ascentium Capital ("Secured Party") and Debtor agree that a more detailed description of the property being financed shall be maintained by us among our books and records in whatever more detailed description of the property financed is received from the supplier(s) of such pro
Source: Item 23 — **RECEIPTS (FDD pages 48–197)
What This Means (2025 FDD)
According to the 2025 Chesters Franchise Disclosure Document, the initial payment for the North Pole Coffee Express is $5,000. This payment is part of an equipment finance agreement. The agreement outlines a payment schedule that includes an initial payment of $5,000 followed by 47 payments of $1,432.15.
This financed amount totals $61,550.01. The payments include interest at an annual rate of 9.00% on the unpaid financed amount. The interest is calculated based on a year of 12 months, with each month consisting of 30 days.
The collateral for this agreement includes items of equipment, inventory, and personal property related to the North Pole Coffee Express. Specifically, the personal property includes a Flatbed Truck with sleigh clamps and a Snow Plow with a 20 ft blade. This agreement indicates that Regions Bank, operating as Ascentium Capital, is the lender providing the financing for the collateral and associated soft costs such as shipping, installation, training, taxes, and fees.