Stewards extends $1.6 million loan repayment to FAVO Holdings until January 15, 2027
SWRD•Stewards extended the maturity of its $1.6 million loan to FAVO Holdings to January 15, 2027, after the final principal installment went unpaid. The loan carries 10% annual simple interest, while a 15% default rate remains waived through the new maturity date.
1. Repayment extended
Stewards amended its promissory note with FAVO Holdings on November 11, 2026, extending the $1.6 million maturity to January 15, 2027. The amendment is effective October 15, 2026, when the final principal installment went unpaid.
2. Interest and ownership
Outstanding principal carries 10% annual simple interest, adding $40,000 due at maturity alongside other accrued, unpaid interest. The 15% annual default interest rate remains waived through January 15, 2027, and resumes January 16 unless principal and interest are fully paid. FAVO Holdings is owned 65% by former CEO Vincent Napolitano and 35% by current CEO Shaun Quin, making the transaction a related-party deal.
