What is the total amount of long-term debt due in 2024 for Dryject?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
ssuance costs as 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 income and member's capital.
Long-term debt allocated to the Company at December 31, consists of the following:
| 2024 | 99 | 2023 | ||
|---|---|---|---|---|
| Note payable to WSFS Bank, due in monthly installments of $13,034, interest at 2.5% above prime, due in August 2026 | $ | 265,230 | $ | 402,675 |
| Note payable to the former members of the LLC, due in monthly installments beginning in September 2018 of $2,629, interest at 5.0%, due in September 2028 | 114,320 | 142,700 | ||
| Total Notes Payable | 379,550 |
Source: Item 8 — BUSINESS RELATIONSHIP (FDD pages 68–229)
What This Means (2025 FDD)
According to Dryject's 2025 Franchise Disclosure Document, the total current portion of long-term debt, which represents the amount due within the year 2024, is $178,800. This debt includes a note payable to WSFS Bank with monthly installments of $13,034, bearing interest at 2.5% above prime, and a note payable to the former members of the LLC with monthly installments of $2,629, bearing interest at 5.0%.
This figure is important for prospective Dryject franchisees because it provides insight into the company's debt obligations for the upcoming year. Understanding the current portion of long-term debt helps potential franchisees assess the financial stability and liquidity of Dryject. It also allows them to gauge the company's ability to manage its debt and meet its short-term obligations.
Furthermore, the FDD specifies that the note payable to WSFS Bank is due in August 2026, while the note payable to the former members is due in September 2028. These details give a clearer picture of the repayment schedule and the nature of Dryject's long-term liabilities. The presence of these debts indicates that Dryject has relied on financing to support its operations and growth.
It is also important to note that the total long-term debt, less the current portion, is $193,962. This represents the amount of long-term debt that is not due within the next year. Analyzing both the current and long-term portions of debt provides a comprehensive view of Dryject's overall debt structure and its potential impact on the company's financial performance.