---
schema_version: "secwatch.filing_event.v1"
accession: "0001199835-23-000604"
form_type: "8-K"
ticker: "LRDC"
cik: "0001442492"
company_name: "Laredo Oil, Inc."
filed_at: "2023-12-12T23:59:59+00:00"
generated_at: "2026-06-07T14:06:25.167355+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Laredo Oil enters SBA payment plan for PPP loan, 180 monthly payments of $5,860.32

## Summary
- 180 monthly payments of $5,860.32 each; first payment due December 22, 2023.
- Failure to pay triggers Treasury collection activities on entire remaining balance.
- Nonpayment also subjects company to additional accrued interest and 30%+ collection fees.
- Plan restructures existing PPP loan obligation into direct financial obligation.

## SEC filing metadata
- accession: 0001199835-23-000604
- form_type: 8-K
- ticker: LRDC
- cik: 0001442492
- company_name: Laredo Oil, Inc.
- filed_at: 2023-12-12T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1442492/000119983523000604/0001199835-23-000604-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1442492/000119983523000604/form_8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001199835-23-000604
- JSON: https://secwatch.observer/filing/0001199835-23-000604.json
- Plain text: https://secwatch.observer/filing/0001199835-23-000604.txt

## Key facts
- Debt Financings
  Laredo Oil, Inc. incurred loan of 180 monthly payments of $5,860.32 with U.S. Small Business Administration maturing 180 monthly payments.
  - Instrument: loan
  - Principal: 180 monthly payments of $5,860.32
  - Counterparty: U.S. Small Business Administration
  - Maturity: 180 monthly payments
  - Event: incurrence
  source text: On December 6, 2023, Laredo Oil, Inc. (the “Company”) entered into a Payment Plan arrangement agreement (the “Plan”) with the U.S. Small Business Administration (the “SBA”) related to the Company’s Paycheck Protection Plan (“PPP”) loan from the SBA. Under the terms of the Plan, the Company agreed to pay the SBA a minimum of 180 monthly payments of $5,860.32.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1442492/000119983523000604/0001199835-23-000604-index.htm
- Material Agreements
  Laredo Oil, Inc. entered into Plan with U.S. Small Business Administration valued at $5,860.32 (effective 2023-12-06).
  - Action: entry
  - Counterparty: U.S. Small Business Administration
  - Value: $5,860.32
  - Effective: 2023-12-06
  source text: On December 6, 2023, Laredo Oil, Inc. (the “Company”) entered into a Payment Plan arrangement agreement (the “Plan”) with the U.S. Small Business Administration (the “SBA”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1442492/000119983523000604/0001199835-23-000604-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.