| LONG TERM DEBT |
NOTE 10 – LONG-TERM DEBT We had the following long-term debt obligations at: | | December 28, 2025 | | | December 29, 2024 | | 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 seven BTND properties. BT Brands, Inc., and a shareholder of the Company guarantee the notes. | | $ | 2,116,522 | | | $ | 2,307,143 | | Less - unamortized debt issuance costs | | | (25,399 | ) | | | (30,799 | ) | Current maturities | | | (191,531 | ) | | | (185,009 | ) | Long-term debt, less current portion | | $ | 1,899,592 | | | $ | 2,091,335 | |
Scheduled maturities of long-term debt, excluding amortization of debt issuance costs, are as follows at December 28, 2025: Fiscal year ending-- 1/3/27 | | $ | 191,531 | | 1/2/28 | | | 198,207 | | 12/31/28 | | | 205,270 | | 12/30/29 | | | 212,507 | | 12/29/30 | | | 219,007 | | Thereafter | | | 1,107,836 | | | | $ | 2,134,358 | |
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