AppTech Payments enters $500,000 9% promissory note with Suzanne D. Lord trust
APCX•Related-party promissory note for working capital
AppTech Payments entered a USD 500,000 promissory note with the Suzanne D. Lord Spousal Estate Reduction Trust for short-term working capital.
The note carries 9% annual interest and matures 90 days from July 17, 2026, with no required payments until maturity.
It can be prepaid at any time without penalty, subject to accrued interest through the payment date.
The lender can accelerate repayment upon default, including nonpayment at maturity or certain bankruptcy-related events.
The loan is a related-party transaction because trustee Albert L. Lord, Jr. is board chairman.
