Priority Technology Holdings Inc
For the period ended Mar 31, 2025. Filed May 6, 2025.
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Mar 31, 2025 · Filed May 6, 2025
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5. Notes Receivable
- Notes Receivable
The Company had notes receivable of $8.7 million and $8.6 million as of March 31, 2025 and December 31, 2024, respectively, which are reported as current portion of notes receivable and notes receivable less current portion on the Company's Unaudited Consolidated Balance Sheets. The notes receivable carried weighted-average interest rates of 16.8% and 16.9% as of March 31, 2025 and December 31, 2024, 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 March 31, 2025 and December 31, 2024, the Company hadno allowance for doubtful notes receivable.
As of March 31, 2025, the principal payments for the Company's notes receivable are due as follows:
| (in thousands) | |
|---|---|
| Twelve months ending March 31, | |
| 2026 | $2,231 |
| 2027 | 1,906 |
| 2028 | 1,976 |
| 2029 | 508 |
| After 2029 | 2,083 |
| Total | $8,704 |
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