What happens if I don't pay my Coffee News loan on time?

According to the 2025 Coffee News Franchise Disclosure Document, if you do not pay your Coffee News loan on time, Coffee News can call the loan and demand immediate payment of the full outstanding balance. Additionally, Coffee News can obtain court costs and attorney's fees if a collection action is necessary.

To secure the payment of the Promissory Note, the Debtor grants the Holder all licensed rights to the territory granted in the Coffee News Franchise Agreement. If the failure to pay interest, principal, or any other amount due on the Promissory Note continues for more than five days, and there is no grace period for default, the entire debt becomes due and payable. This includes all charges the Holder would be entitled to if the Promissory Note were prepaid in full.

Upon realizing the security, Coffee News has the right and power to sell the franchise that was granted to the debtor in the Coffee News Franchise Agreement. This means that Coffee News can take over your franchise if you fail to meet your payment obligations, which is a significant risk for franchisees who rely on financing to expand their Coffee News business.