Priority Technology Holdings Inc
For the period ended Dec 31, 2024. Filed Mar 6, 2025.
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FY2024 · Filed Mar 6, 2025
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5. Notes Receivable
- Notes Receivable
The Company has notes receivable of $8.6 million and $5.2 million as of December 31, 2024 and 2023, respectively, which are reported as current portion of notes receivable and notes receivable less current portion on the Company's Consolidated Balance Sheets. The notes bear a weighted-average interest rate of 16.9% and 18.6% as of December 31, 2024 and 2023, respectively. The notes receivable are comprised of notes receivable from ISOs, and under the terms of the agreements the Company preserves the right to hold back residual payments due to the ISOs and to apply such residuals against future payments due to the Company. As of December 31, 2024 and 2023, the Company hadno allowance for doubtful notes receivable.
As of December 31, 2024, the principal payments for the Company's notes receivables are due as follows:
| (in thousands) | |
|---|---|
| Year Ending December 31, | |
| 2025 | $3,638 |
| 2026 | 2,283 |
| 2027 | 1,732 |
| 2028 | 904 |
| 2029 | — |
| Thereafter | — |
| Total | $8,557 |
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