What is the monthly principal and interest payment amount for the five-year vehicle loan that Itan received in December 2023?
Itan Franchise · 2025 FDDAnswer from 2025 FDD Document
ferred tax liability is $49,948 and $39,617 for the years ending December 31, 2024 and 2023, respectively. The deferred tax asset is $40,619 and $37,027 for the years ending December 31
Source: Item 23 — RECEIPT (FDD pages 44–190)
What This Means (2025 FDD)
According to Itan's 2025 Franchise Disclosure Document, the company obtained a five-year vehicle loan in December 2023. The monthly payment for this loan, covering both principal and interest, is $1,690. The interest rate on the loan is stated at 5.84%. This information is detailed in Note 10, which discusses the note payable.
For a prospective Itan franchisee, this indicates that the company has ongoing debt obligations. Reviewing the complete financial statements and notes is essential to understand the overall financial health and stability of Itan. Understanding the terms of the loan, such as the interest rate and payment schedule, can provide insight into the company's cash flow management and debt servicing capabilities.
It is important to note that this loan relates to a vehicle and may not directly impact the operations of a franchisee. However, it is still relevant as it reflects the company's financial decisions and obligations. Franchisees should consider this information in conjunction with other financial data to assess the franchisor's financial responsibility and long-term viability.