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LONG TERM DEBT (Tables) | 12 Months Ended
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Dec. 29, 2024
LONG TERM DEBT |
Summary of long term debt obligations |
We had the following long-term debt obligations at: |  | December 29, 2024 |  |  | December 31, 2023 |
Three notes payable to a bank dated June 28, 2021 due in monthly installments totaling $22,213, including principal and interest at a fixed rate of 3.45% through June 28, 2031. Beginning in July 2031, the interest rate will equal the greater of the “prime rate” plus .75%, or 3.45%. These notes mature on June 28, 2036. The notes are secured by mortgages covering eight BTND operating locations. The notes are guaranteed by BT Brands, Inc., and a shareholder of the Company. |  | $ | 2,307,143 |  |  | $ | 2,489,299 |
Less - unamortized debt issuance costs |  |  | (30,799 | ) |  |  | (36,199 | )
Current maturities |  |  | (185,009 | ) |  |  | (183,329 | )
Long-term debt, less current portion |  | $ | 2,091,335 |  |  | $ | 2,269,771 |
Schedule of maturities of long-term debt |
12/28/25 |  | $ | 185,009 |
1/3/27 |  |  | 191,531 |
12/31/27 |  |  | 198,207 |
12/30/28 |  |  | 205,270 |
12/29/29 |  |  | 212,507 |
Thereafter |  |  | 1,314,620 |
|  | $ | 2,307,143 |

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