What was the SG Credit Debt for Fast Fix Jewelry And Watch Repairs in 2022?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
oximately $78,000 and $62,800 for the years ended December 31, 2023 and 2022, respectively.
Note 6. Long-Term Debt
Long-term debt consists of the following as of December 31:
| _ | 2023 | _ | 2022 | |
|---|---|---|---|---|
| Senior term loan | $ | 4,323,5 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 37)
What This Means (2025 FDD)
According to Fast Fix Jewelry And Watch Repairs's 2025 Franchise Disclosure Document, the senior term loan amount was $5,161,849 in 2022. After deducting unamortized debt issuance costs of $211,860 and the current portion of $834,876, the remaining amount was $4,115,113.
This indicates the total senior debt obligations Fast Fix Jewelry And Watch Repairs had in 2022, reflecting the principal amount of the loan, adjustments for debt issuance costs, and the portion of the debt due within the next year. For a prospective franchisee, this information provides insight into the financial obligations of Fast Fix Jewelry And Watch Repairs, which can be useful in assessing the financial stability and overall risk associated with investing in the franchise.
It's important to note that this figure represents only the senior term loan and does not include other potential liabilities or debts that Fast Fix Jewelry And Watch Repairs may have. Reviewing the complete financial statements and notes is essential to gain a comprehensive understanding of the company's financial position.