Maison Solutions Inc. Debt Disclosure
12. Loan payables
A summary of the Company’s loans was listed as follows:
| Lender | Due date | April 30, 2025 | April 30, 2024 | |||||||
| U.S. Small Business Administration | June 15, 2050 | 2,616,050 | 2,561,299 | |||||||
| Total loan payables | 2,616,050 | 2,561,299 | ||||||||
| Current portion of loan payables | (62,212 | ) | (65,098 | ) | ||||||
| Non-current loan payables | $ | 2,553,838 | $ | 2,496,201 | ||||||
U.S. Small Business Administration (the “SBA”)
| Borrower | Due date | April 30, 2025 | April 30, 2024 | |||||||
| Maison Monrovia | June 15, 2050 | $ | 150,000 | $ | 145,071 | |||||
| Maison San Gabriel | June 15, 2050 | 1,967,874 | 1,933,394 | |||||||
| Maison El Monte | June 15, 2050 | 498,176 | 482,834 | |||||||
| Total SBA loan payables | $ | 2,616,050 | $ | 2,561,299 | ||||||
On June 15, 2020, Maison Monrovia entered into a $150,000 Business Loan Agreement with the SBA at 3.75% annual interest rate and a maturity date on June 15, 2050.
On June 15, 2020, Maison San Gabriel entered into a $150,000 Business Loan Agreement with the SBA at 3.75% annual interest rate and a maturity date on June 15, 2050. On January 12, 2022, Maison San Gabriel entered into an additional $1,850,000 Business Loan Agreement with the SBA at 3.75% annual interest rate and a maturity date on June 15, 2050.
On June 15, 2020, Maison El Monte entered into a $150,000 Business Loan Agreement with SBA at 3.75% annual interest rate and a maturity date on June 15, 2050. On January 6, 2022, Maison El Monte entered into an additional $350,000 Business Loan Agreement with the SBA at 3.75% annual interest rate and a maturity date on June 15, 2050.
Per the SBA loan agreement, all interest payments on these three loans were deferred to December 2022. As of April 30, 2025 and 2024, the Company’s aggregate balance on the three SBA loans was $2,616,051 and $2,561,299, respectively. During the year ended April 30, 2025 and 2024, the Company made aggregate repayment of the SBA loans of $156,120 and $156,120 (which includes principal of and interest expense).
As of April 30, 2025, the future minimum principal amount of loan payments to be paid by year were as follows:
| Year Ending April 30, | Amount | |||
| 2026 | $ | 62,212 | ||
| 2027 | 62,212 | |||
| 2028 | 62,212 | |||
| 2029 | 62,212 | |||
| 2030 | 62,212 | |||
| Thereafter | 2,304,990 | |||
| Total | $ | 2,616,050 | ||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Aug 14, 2025 | Showing above |
| 2024 | Aug 13, 2024 | |
About Debt Disclosures
Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.
Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.