Company: LRHC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032211
Chunk: 403

Company: La Rosa Holdings Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 403
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 bear interest at a rate of 3.75% per annum. Payments are to be made monthly, and each payment is applied
first to the interest accrued to the date of receipt of each payment and any remaining payment is applied to principal. The loan terms
provide for a collateral interest for the SBA and limits the use of proceeds to working capital to alleviate the effects of COVID-19 on
the Company’s economic condition.

During the fourth quarter of 2023, the Company
acquired two franchisees that had outstanding Economic Injury Disaster Loans (the “EIDL Loans”) in the aggregate of $263,000.
During the first quarter of 2024, the Company acquired a franchise that had an outstanding EIDL Loan in the aggregate of $34,100. The
Company acquired the EIDL Loans, and the EIDL loans have terms similar to the Company’s existing EIDL loans. The EIDL Loans mature
in 2050 and bear interest at a rate of 3.75% per annum.

F-23

Future maturities of Economic Injury Disaster Loans as of December
31, 2024, were as follows:

    December 31, 
  
    Economic Injury Disaster Loans-Future Maturities 
    2024 
  
    2025 
    $5,900 
  
    2026 
     5,900 
  
    2027 
     5,900 
  
    2028 
     5,900 
  
    2029 
     5,900 
  
    2030 
     5,900 
  
    Thereafter 
     612,230 
  
    Total 
    $647,630 

Total Notes Payable as of December 31, 2024 and
December 31, 2023 were as follows:

    December 31,  
    December 31, 
  
    Notes Payable 
    2024  
    2023 
  
    Senior secured promissory note (SSPN) #1 
    $106,192  
    $— 
  
    Senior secured promissory note #2 
     1,316,000  
     — 
  
    Senior secured promissory note #3 
     468,000  
     — 
  
    Promissory note 
     148,725  
     — 
  
    Economic injury disaster loans (EIDL) 
     647