FEDERALLY GUARANTEED LOAN |
9 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Federally Guaranteed Loan | |
| FEDERALLY GUARANTEED LOAN | 7. FEDERALLY GUARANTEED LOAN
Economic Injury Disaster Loan (“EIDL”)
In April 2020, the Company received $370,900 from the U.S. Small Business Administration (SBA) under the captioned program. The loan has a term of 30 years and an interest rate of 3.75% per annum, without the requirement for payment in the first 12 months. The Company may prepay the loan without penalty at will.
In May 2021, the Company received an additional $499,900 from the SBA under the same terms.
As of December 31, 2025 and March 31, 2025, the Company recorded accrued interest of $ for the EIDL loan.
Interest expense on the above loan was $8,231 and $26,120 for the three and nine months ended December 31, 2025, respectively, and $8,231 and $24,603 for the three and nine months ended December 31, 2024, respectively.
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