Loan & DebtJul 2, 2026, 05:32 PM
AppTech Payments Secures $500,000 Promissory Note at 9.0%
AI Summary
AppTech Payments Corp. secured a $500,000 promissory note from the Suzanne D. Lord Spousal Estate Reduction Trust for short-term working capital and general corporate purposes. The note carries a 9.0% annual interest rate and matures in 90 days, with no principal or interest payments required until maturity. The transaction is considered a related person transaction as the trustee of the lending trust is the Chairman of AppTech's Board of Directors, and it was approved by the Company's Board.
Key Highlights
- AppTech Payments Corp. entered into a Promissory Note for $500,000.
- The loan is from the Suzanne D. Lord Spousal Estate Reduction Trust.
- Funds are for short-term working capital and general corporate purposes.
- The Note bears interest at a rate of 9.0% per annum.
- The Note matures ninety (90) days from its issuance date of June 26, 2026.
- The Company may prepay the Note at any time without premium or penalty.
- The lender is a related person transaction, as Albert L. Lord, Jr., Chairman of the Board, is the trustee.
Price Impact
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