What is the stated interest rate for the five-year vehicle loan that Itan received in December 2023?
Itan Franchise · 2025 FDDAnswer from 2025 FDD Document
liability is $39,617 and $45,047 for the years ending December 31, 2023 and 2022, respectively. The deferred tax asset is $37,027 and $4,661 for the years ending De
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 loan requires monthly payments of $1,690, which include both principal and interest. The stated interest rate for this loan is 5.84%.
This information is relevant to potential Itan franchisees as it provides insight into the company's financial obligations and how they manage debt. Understanding the interest rates and payment terms on Itan's existing loans can help franchisees assess the financial stability of the company.
While this specific loan may not directly impact franchisees, it serves as an example of the types of financial arrangements Itan enters into. Franchisees may want to inquire about other loans or financial obligations the company has, as these could affect the franchisor's ability to support its franchisees.