What is the interest rate on the note payable to the former members of the LLC for Dryject?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
------------------------------------------------------------------------------------------------------------------|-----|----------|----|----------| | Mawr Trust Company), due in monthly
Source: Item 8 — BUSINESS RELATIONSHIP (FDD pages 68–229)
What This Means (2025 FDD)
According to Dryject's 2025 Franchise Disclosure Document, the company had a note payable to the former members of the LLC. This note was structured with monthly installments of $2,629, beginning in September 2018 and is due in September 2028. The interest rate for this note is set at 5.0%.
This information is relevant for prospective Dryject franchisees as it provides insight into the company's financial obligations and debt structure. Understanding the terms of existing notes payable, such as interest rates and payment schedules, helps potential franchisees assess the financial health and stability of Dryject.
Specifically, knowing the interest rate on the note payable to former members allows a franchisee to understand the cost of this particular debt and its impact on Dryject's overall financial performance. This is a fixed interest rate, which means Dryject's payments will not fluctuate with changes in market interest rates, providing predictability in their financial planning.