What is the interest rate on the note payable to WSFS Bank for Dryject, and when is it due?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
a reduction of the carrying amount of the debt rather than as an asset. Amortization of the debt issuance costs is reported as interest expense in the statement of functional expenses.
Note 4 - (continued)
Long-term debt allocated to the Company at December 31, consists of the following:
| Note payable to WSFS Bank (formerly Bryn | s | 527,327 | s | 648,433 | |-----------------------------------------------
Source: Item 8 — BUSINESS RELATIONSHIP (FDD pages 68–229)
What This Means (2025 FDD)
According to Dryject's 2025 Franchise Disclosure Document, the company has a note payable to WSFS Bank (formerly Bryn Mawr Trust Company). The interest rate for this note is 2.5% above the prime rate. The note is payable in monthly installments of $13,034 and is due in August 2026.
This information is relevant to potential Dryject franchisees as it provides insight into the company's financial obligations and debt structure. Understanding the interest rate and due date of the note payable to WSFS Bank helps franchisees assess the financial stability and potential risks associated with investing in the Dryject franchise.
It's important to note that the prime rate can fluctuate, which would affect the actual interest paid on the note. A prospective franchisee should consider this variable interest rate when evaluating the financial health of Dryject. Reviewing Dryject's financial statements and understanding its debt obligations is a crucial part of the due diligence process for any potential franchisee.