Polomar Health Services signs $450,000 loan agreement with Island 40 Group
PMHS•Polomar Health Services signed a $450,000 loan agreement with Island 40 Group, effective Nov. 9, 2026, to cover unpaid commissions. The loan matures March 31, 2027, and carries 10% annual interest through Dec. 31, 2026, then a monthly rate based on prime plus 4 percentage points.
1. Loan terms
Polomar Health Services executed a $450,000 promissory note and loan agreement with Island 40 Group effective Nov. 9, 2026. The note covers unpaid commissions owed to the lender, and wholly owned subsidiary Polomar Specialty Pharmacy guarantees repayment.
2. Interest and maturity
The note carries simple interest at 10% annually through Dec. 31, 2026. After that, the rate resets monthly to the Wall Street Journal prime rate on the first day of each month, plus 4 percentage points. The note matures March 31, 2027, and permits full or partial prepayment without penalty or premium.
