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THE CLEANING AUTHORITY - FDD UFOC ITEM 10 Detail

ITEM 10 FINANCING

We do not offer direct or indirect financing of your initial franchise fee. If we grant you an option to purchase additional territoiyAd.ditijQ^ialJEigailojy, and you exercise your option under the terms of the Addendum to Franchise Agreement, you will owe us a fee equal to $1.00 times the number of qualified householdsQuaJifjgdJjous__hojds in this additional teiriloryAdchfiona] Texritqry. We may finance this fee for you over a period of up to 2 years. The payment is amortized over the term of the loan, and you must make equal weekly payments. We charge an interest rate of up to 6% per annum if we finance this payment. (See Section 3 of Franchise Agreement Amendment, and Promissory Note ("Note") attached as Exhibit C to this UFOCDisclosure Document.) If you are a corporation, partnership, or limited liability company, we require all of your shareholders, members or partners to sign personal guaranties. We do not plan on assigning any of our rights to the Note to a third party, but we reserve the right to do so. If we do assign the Note to a third party, you may lose all of your defenses against the subsequent purchaser of the Note. Except for this, we do not offer direct or indirect financing. We may assist you in negotiating with financial institutions to obtain financing as part of your initial investment, but we cannot guarantee financing will be made available to you either by us or by any particular financial institution. We do not receive any direct or indirect payment for placing financing. We also will not guarantee any financing you might obtain.

We are listed on the SBA''s Franchise Registry Program. Under this program, your lender will be able to use an expedited and streamlined SBA loan processing through the SBA''s Franchise Registry Program, www.franchiseregistry.com.

 

 

 





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