Noble Roman’s secures new senior secured loan of about $6.9 million from Lake Forest Bank & Trust - NROM News | RalliesNoble Roman’s secures new senior secured loan of about $6.9 million from Lake Forest Bank & Trust
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NROM• Loan terms and expected interest cost
- The new loan carries interest at SOFR + 4%, currently about 7.6%.
- Principal amortizes monthly over 60 months.
- Total interest cost is projected at about $161,000 in Q3 2026 versus about $406,000 in Q3 2025.
New loan replaces prior financing and repays debt
- Noble Roman's secured a new senior secured term loan of about $6.9 million from Lake Forest Bank & Trust.
- The financing repaid the prior senior secured term loan. Warrants tied to the prior loan were purchased and extinguished.
- Sub debt notes were repaid. A $353,000 write-off of unamortized loan and warrant costs hit 2026 net income.
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