What is the maturity date for the note associated with the Corcoran franchise?
Corcoran Franchise · 2025 FDDAnswer from 2025 FDD Document
e of executing the release and that, if known by him or her, would have materially affected his or her settlement
Source: Item 23 — RECEIPTS (FDD pages 75–276)
What This Means (2025 FDD)
According to the 2025 Corcoran Franchise Disclosure Document, the maturity date for the note is specified in a table. The table provides a space for the year, but it is left blank, represented as "December 31, 20___". This means the exact year of the maturity date is not specified in this section of the FDD.
Prospective Corcoran franchisees need to understand the terms of any promissory notes they might sign, including the maturity date, as this dictates when the principal amount is due. Without a specific year, it's impossible to determine the repayment timeline. The note also mentions conditions for forgiveness of the principal amount, specifically if certain revenue targets are met each year, starting in 2026.
It is important for potential franchisees to clarify the maturity date with Corcoran before signing any agreements. Understanding the full repayment schedule and the conditions for principal forgiveness is crucial for financial planning and assessing the overall feasibility of the franchise investment. This information is typically found within the specific promissory note agreement, which prospective franchisees should review carefully with their legal and financial advisors.