When was the 2021 note payable paid in full by Expense Reduction Analysts?
Expense_Reduction_Analysts Franchise · 2025 FDDAnswer from 2025 FDD Document
reversion and reacquisition agreement for a total of $201,897. Beginning on January 5, 2025, the Company will pay the purchase price in 36 equal, consecutive monthly installments of $2,804 each at 0% interest, with the final payment due December 5, 2027.
During 2021, the Company entered into a reversion and reacquisition agreement for a total of $300,000.
Source: Item 23 — RECEIPTS (FDD pages 58–215)
What This Means (2025 FDD)
According to Expense Reduction Analysts' 2025 Franchise Disclosure Document, a note payable from 2021 was paid in full during the year ended December 31, 2024. This note stemmed from a reversion and reacquisition agreement totaling $300,000.
The repayment schedule for this note involved four equal, consecutive annual installments of $75,000 each, beginning on March 1, 2021. The original final payment was due on February 1, 2024.
For a prospective Expense Reduction Analysts franchisee, this indicates the company's ability to manage and resolve its financial obligations, specifically debt from reacquisition agreements. Understanding the context of these agreements and the company's history of fulfilling such obligations can be valuable in assessing the financial stability of the franchise.