Company: SQFTP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001437749-25-010185
Chunk: 1327

Company: Presidio Property Trust, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 1327
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   Scheduled principal payments of mortgage notes payable were as follows as of  December 31, 2024:

        F-
       24

       Commercial    Model      
   Properties    Homes    Total Principal  
 Years ending December 31:   Notes Payable    Notes Payable    Payments  
 2025  $30,494,515  $8,283,913  $38,778,428 
 2026   16,654,441   1,668,193   18,322,634 
 2027   302,885   495,924   798,809 
 2028   322,652   9,575,775   9,898,427 
 2029   17,291,085   6,036,993   23,328,078 
 Thereafter   11,715,693   —   11,715,693 
 Total  $76,781,271  $26,060,798  $102,842,069 

   8. NOTES PAYABLE
    
   On  April 22, 2020, the Company received an Economic Injury Disaster Loan of $10,000 from the Small Business Administration ("SBA") to provide economic relief during the COVID-19 pandemic. This loan advance is not required to be repaid, has no stipulations on use, and has been recorded as fees and other income in the consolidated statements of operations during fiscal 2020. On  August 17, 2020, we received an additional Economic Injury Disaster Loan ("EIDL") of $150,000, for which principal and interest payments are deferred for twelve months from the date of issuance, and interest accrues at 3.75% per year. The loan matures on  August 17, 2050. We have used the funds for general corporate purposes to alleviate economic injury caused by the COVID-19 pandemic, which economic injury included abating or deferring rent to certain tenants (primarily retail tenants).  As of  December 31, 2024 and 2023, the principal balance on SBA loan was approximately $144,089 and $147,428, respectively.

   During 2023, we had issued one promissory note to our majority owned subsidiary, Dubose Model Home