AMERICAN REBEL HOLDINGS INC (AREB): debt financing — American Rebel borrows $500K via secured loan at 22% interest; CEO provides personal guaranty

AMERICAN REBEL HOLDINGS INC

Received $490,000 net from $500,000 Secured Loan with Alt Banq Inc.; 52 weekly payments of $11,731 total $610,000.
Principal bears interest at 22% per annum; loan secured by all assets, second to prior line of credit.
CEO Charles A. Ross, Jr. issued a personal guaranty for the full amount of 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 $500,000 with Alt Banq Inc. at 22% per annum maturing 52 weekly payments.

Instrument: loan
Principal: $500,000
Counterparty: Alt Banq Inc.
Rate: 22% per annum
Maturity: 52 weekly payments
Event: incurrence

Exact text from the filing

On December 28, 2023, the Registrant entered into a $500,000 Business Loan and Security Agreement (the “Secured Loan”) with Alt Banq Inc., an accredited investor lending source (the “Lender”). Under the Secured Loan, the Registrant received $490,000 on December 29, 2023, which was net of fees to the Lender. The Secured Loan requires 52 weekly payments of $11,731, for a total repayment of $610,000 to the Lender. The principal balance bears interest at 22% per annum.

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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 Alt Banq Inc. valued at $500,000 (effective 2023-12-28).

Action: entry
Agreement: credit facility
Counterparty: Alt Banq Inc.
Value: $500,000
Effective: 2023-12-28

Exact text from the filing

On December 28, 2023, the Registrant entered into a $500,000 Business Loan and Security Agreement (the “Secured Loan”) with Alt Banq Inc., an accredited investor lending source (the “Lender”).

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Source: SEC EDGAR

accession 0001493152-24-000331

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