AMERICAN REBEL HOLDINGS INC (AREB): debt financing — American Rebel enters $1M secured loan at 22.8% interest, CEO personally guarantees

AMERICAN REBEL HOLDINGS INC

Received $980,000 net of fees under $1,000,000 Business Loan and Security Agreement.
Loan requires 64 weekly payments of $20,000, total repayment of $1,280,000.
Principal balance bears interest at 22.8% per annum.
Loan is secured by all company and subsidiary assets, subordinate to existing line of credit.
CEO Charles A. Ross, Jr. provided a personal guaranty for the loan.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AMERICAN REBEL HOLDINGS INC incurred loan of $1,000,000 at 22.8%.

Instrument: loan
Principal: $1,000,000
Rate: 22.8%
Event: incurrence

Exact text from the filing

On April 14, 2023, the Registrant entered into a $1,000,000 Business Loan and Security Agreement (the “Secured Loan”) with an accredited investor lending source (the “Lender”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AMERICAN REBEL HOLDINGS INC entered into Secured Loan with an accredited investor lending source (the “Lender”) valued at $1,000,000 (effective 2023-04-14).

Action: entry
Agreement: credit facility
Counterparty: an accredited investor lending source (the “Lender”)
Value: $1,000,000
Effective: 2023-04-14

Exact text from the filing

On April 14, 2023, the Registrant entered into a $1,000,000 Business Loan and Security Agreement (the “Secured Loan”) with an accredited investor lending source (the “Lender”).

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Source: SEC EDGAR

accession 0001493152-23-015055

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