Company: BLNE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023462
Chunk: 113

Company: Beeline Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 113
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accrued interest outstanding balance was $8.4
million. The lender allowed the draws to exceed the $5.0
million line of credit. Interest expense on the warehouse line of credit was $0.2
million for the nine months ended September 30, 2025.

In
October 2025, the Company expanded its warehouse lines to $25.0 million tripling its prior $5.0 million line to $15.0 million and adding
two new $5.0 million lines with new lenders, see Note 20 – Subsequent Events.

11.
NOTES PAYABLE

Notes
payable consisted of the following:

 SCHEDULE OF NOTES PAYABLE

    (Dollars
    in thousands) 
    September
    30, 2025  
    December
    31, 2024 
  
    Note
    payable - 2023 
    $           -  
    $     500 
  
    Term
    loan agreement 
     -  
     275 
  
    Total 
     -  
     775 
  
    Accrued
    interest 
     -  
     70 
  
    Debt
    discount 
     -  
     (5)
  
    Notes
    payable, net 
    $-  
    $840 

On
May 13, 2025, the Company borrowed $0.3 million from an affiliate of one of the secured credit lenders and issued a $0.3 million non-convertible
promissory note which was due on July 13, 2025, and bore interest computed at the per annum minimum Internal Revenue Service rate imputed
as it may change from time-to-time prior to maturity. In June 2025, the note was repaid in full.

During
2023, Beeline Financial issued a note payable for proceeds of $0.5 million, net of offering costs. However, this balance is not included
in the 2023 consolidated balance sheet due to the Merger closing October 7, 2024. Interest accrues at 18.0% per annum and interest-only
payments are made monthly. This loan matured December 2024. On June 27, 2025, the lender agreed not to take action against the Company
if the principal and any outstanding interest was paid by September 15, 2025. During September 202