When is the interest due for Learningrx franchisees who make late payments?
Learningrx Franchise · 2025 FDDAnswer from 2025 FDD Document
| Name of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Interest | 1% per month, or the maximum interest rate allowed by applicable law, whichever is less | 30 days after due date | Franchisees must pay interest on late payments and payments returned to us due to insufficient funds. |
Source: Item 6 — OTHER FEES (FDD pages 13–19)
What This Means (2025 FDD)
According to Learningrx's 2025 Franchise Disclosure Document, franchisees who make late payments will incur interest charges. The interest is calculated at a rate of 1% per month, or the maximum interest rate allowed by applicable law, whichever is less.
This interest is due 30 days after the original due date of the payment. This means a Learningrx franchisee has a 30-day grace period before interest charges are applied to late payments.
In addition to late payments, Learningrx franchisees will also be charged interest on payments returned due to insufficient funds. This policy is fairly standard in franchising, as franchisors need to ensure timely payments to maintain their own financial stability and support services for all franchisees.