What were the finance costs for Petro Stopping Center in 2022?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
All amounts which you owe us, including but not limited to all amounts due under this Agreement or under any other agreement between us or our Affiliates and you, will bear interest automatically and without notice from us, after their due date at the annual rate of eighteen 18% or the highest contract rate of interest permitted by law, whichever is less.
You acknowledge that we do not agree to accept any payments after they are due nor commit to extend credit to, or otherwise finance your operation of, the Petro Center.
Your failure to pay all amounts when due constitutes grounds for termination of this Agreement.
Source: Item 14 — Other investments (FDD pages 131–208)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the financial information regarding finance costs for Petro Stopping Center in 2022 is not available. The document does outline some financial obligations of the franchisee, such as the payment of fees and costs associated with financing and the potential for interest on late payments. However, it does not provide specific figures for finance costs incurred by franchisees in 2022.
Item 14 generally discusses patents, copyrights, proprietary information, and other investments, including aspects of financing related to the franchise. It mentions that franchisees may need to pay a Financing Review Fee and reimburse legal fees incurred by Petro Stopping Center during the review and negotiation of loan documents. It also states that amounts owed to Petro Stopping Center will bear interest after their due date at an annual rate of 18% or the highest contract rate permitted by law, whichever is less.
To get precise data on finance costs, a prospective franchisee should ask Petro Stopping Center directly about the typical financing costs incurred by franchisees, including any available historical data. This information would be essential for creating an accurate financial forecast for the franchise.