When does the loan from the Shareholder to Craters & Freighters mature?
Craters_Freighters Franchise · 2025 FDDAnswer from 2025 FDD Document
l course of business and were conducted on an arm's length basis.
In December 2023, the Shareholder provided the Company $5,000,000 to fund future investments. During the year ended December 31, 2023, the Shareholder took $2,230,312 in distributions which has been offset against the Shareholder advance. At December 31, 2023, $2,769,688 remained as a balance with a maturity date of January 1, 2026. The remaining balance of $2,769,688 was paid in full during the year ended December 31, 2024. As of December 3
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 49)
What This Means (2025 FDD)
According to the 2025 Craters & Freighters Franchise Disclosure Document, in December 2023, a Shareholder provided Craters & Freighters with $5,000,000 to fund future investments. By December 31, 2023, the Shareholder had taken $2,230,312 in distributions, which was offset against this advance. This left an outstanding balance of $2,769,688 as of December 31, 2023.
The loan from the Shareholder carries an interest rate of 2.95% and has a maturity date of January 1, 2026. The agreement specified that no payments were due on the advance until January 1, 2025.
However, the FDD also states that the remaining balance of $2,769,688 was paid in full during the year ended December 31, 2024. As of December 31, 2024, the amount due to the shareholder was $0. This indicates that while the original maturity date was set for January 1, 2026, the loan was fully repaid well in advance of this date.