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5. LOANS | 12 Months Ended
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Sep. 30, 2018
Notes |
5. LOANS | 5. LOANS On June 30, 2016, NuZee JAPAN Co., Ltd entered into a loan agreement with Tono Shinyo Kinko Bank. The Company borrowed the sum of approximately $145,758 to be repaid on or before June 5, 2021 at an annual interest rate of 1.2%. The loan is unsecured and guaranteed by a director. The outstanding balance on the loan at September 30, 2018 amounted to $72,572. On January 27, 2017, NuZee JAPAN Co., Ltd entered into a loan agreement with Nihon Seisaku Kouko. The Company borrowed the sum of approximately $87,268 to be repaid on or before January 20, 2022 at an interest rate of 0.16%. The loan is unsecured and not guaranteed by a director. The outstanding balance on the loan at September 30, 2018 amounted to $59,720. The loan payments required for the next five years are as follows:
|  | Tono Shinyo Kinko Bank | Nihon Seisaku Kouko
2019 |  | $ 26,390 | $ 17,839
2020 |  | 26,390 | 17,840
2021 |  | 19,792 | 17,840
2022 |  | - | 6,201
2023 |  | - | -
Total Loan Payment | $ 72,572 | $ 59,720

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