| SUMMARY OF LOANS PAYABLE |
As
of December 31, 2024 and 2023, loans payable consisted of:
SUMMARY OF LOANS PAYABLE
| |
|
2024 |
|
|
2023 |
|
| |
|
As of December 31, |
|
| |
|
2024 |
|
|
2023 |
|
| Loans payable – current portion |
|
$ |
229,815 |
|
|
$ |
2,467,656 |
|
| Loans payable – non-current portion |
|
|
10,033,989 |
|
|
|
254,455 |
|
| Total |
|
$ |
10,263,804 |
|
|
$ |
2,722,111 |
|
|
| SCHEDULE OF LINE OF CREDIT FOR WORKING CAPITAL REQUIREMENT |
Education
Angels has obtained line of credit for working capital requirement in 2020, 2021 and 2022. The loans are secured by the guarantees of
the Director and do not have covenant clauses. The outstanding principal as of December 31, 2024 and December 31, 2023 are as follows:
SCHEDULE OF LINE OF CREDIT FOR WORKING CAPITAL REQUIREMENT
| Loan
Type |
|
Start
Date |
|
Loan
Amount |
|
|
Tenure |
|
Interest
Rate |
|
|
Outstanding
as of December 31, 2024 |
|
|
Outstanding
as of December 31, 2023 |
|
| IRD
Loan |
|
2020 |
|
$ |
20,063 |
|
|
72
Months |
|
|
3.25 |
% |
|
$ |
3,088 |
|
|
$ |
10,247 |
|
| Juke
NWN765 |
|
2021 |
|
$ |
19,679 |
|
|
36
Months |
|
|
1.30 |
% |
|
$ |
- |
|
|
$ |
5,500 |
|
| Qashqai
NWN767 |
|
2021 |
|
$ |
22,258 |
|
|
36
Months |
|
|
1.20 |
% |
|
$ |
|
|
$ |
6,990 |
|
| Qashqai
NWN766 |
|
2022 |
|
$ |
22,258 |
|
|
36
Months |
|
|
1.20 |
% |
|
$ |
- |
|
|
$ |
7,396 |
|
Mastermind
Principles and Property Investors Network has obtained line of credit for the working capital requirement in 2020 and 2022. The loans
are secured by the guarantees of the Director and do not have covenant clauses. The outstanding principal amount as of December 31, 2024
and December 31, 2023 are as follows –
| Loan
Type |
|
Start
Date |
|
Loan
Amount |
|
|
Tenure |
|
Interest
Rate |
|
|
Outstanding
as of
December 31,
2024 |
|
|
Outstanding
as of
December 31,
2023 |
|
| Lloyds
CBIL (MPL) |
|
2020 |
|
$ |
239,540 |
|
|
60
Months |
|
|
2.80 |
% |
|
$ |
74,344 |
|
|
$ |
126,067 |
|
| Funding
Circle Loan (MPL) |
|
2022 |
|
$ |
380,804 |
|
|
48
Months |
|
|
9.30 |
% |
|
$ |
121,576 |
|
|
$ |
235,504 |
|
| The
Funding Circle (PIN) |
|
2022 |
|
$ |
116,054 |
|
|
48
Months |
|
|
9.30 |
% |
|
$ |
37,052 |
|
|
$ |
69,271 |
|
| Lloyds
Bounceback Loan |
|
2022 |
|
$ |
51,378 |
|
|
72
Months |
|
|
2.50 |
% |
|
$ |
17,731 |
|
|
$ |
30,764 |
|
| Other
loans |
|
2021 |
|
$ |
14,269 |
|
|
- |
|
|
- |
|
|
$ |
10,013 |
|
|
$ |
14,269 |
|
| Loan
Type |
|
Start
Date |
|
Loan
Amount |
|
|
Tenure |
|
Interest
Rate |
|
|
Outstanding
as of
December 31,
2024 |
|
|
Outstanding
as of
December 31,
2023 |
|
| Bridge
Loan (Alto Opportunity) |
|
2023 |
|
$ |
2,200,000 |
|
|
4
Months |
|
|
0 |
% |
|
$ |
- |
|
|
$ |
2,177,329 |
|
| Promissory
note (Alto Opportunity) |
|
2024 |
|
|
5,720,000 |
|
|
18
Months |
|
|
0 |
% |
|
$ |
- |
|
|
$ |
- |
|
| Arch
Lending (BTC Collateral) |
|
2024 |
|
|
10,000,000 |
|
|
18
Months |
|
|
13.90 |
% |
|
$ |
10,000,000 |
|
|
$ |
- |
|
|