What amount of emergency wage subsidy program income did Coffee News receive in 2024?
Coffee_News Franchise · 2025 FDDAnswer from 2025 FDD Document
sors who have not made significant progress in developing the areas or who choose to focus on other countries. Repurchased franchise rights are recorded at cost when repurchased and are expensed as licenses are sold.
2. Borrowing and Leasing
Short-term debt consisted of $60,000 Scotiabank VISA card issued in r
Source: Item 23 — Receipts (FDD pages 36–118)
What This Means (2025 FDD)
The 2025 Franchise Disclosure Document for Coffee News does not explicitly state the amount of emergency wage subsidy program income that Coffee News received in 2024. However, the document does mention a forgiven debt related to COVID-19.
Specifically, the FDD mentions that Coffee News had a short-term debt consisting of a $60,000 Scotiabank VISA card issued in response to Covid-19. If the debt was repaid within one year of issuance, only $40,000 had to be repaid, with the remaining $20,000 being forgiven. The debt was paid before the December 31, 2023 deadline, and the $20,000 was reported as non-operating income.
While this forgiven debt may be related to an emergency wage subsidy program, the document does not directly confirm this. A prospective franchisee should ask Coffee News for clarification on whether this forgiven debt is related to an emergency wage subsidy program and if Coffee News received any other emergency wage subsidy program income in 2024.