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Note 4 - Short Term Loans
3 Months Ended
Jul. 31, 2018
Notes  
Note 4 - Short Term Loans

NOTE 4 - Short Term Loans

 

On June 8, 2018, the Company borrowed $26,163 from Reliant Funding under the ACH Total Receipts Purchase Agreement (the “ACH Loan”). Pursuant to the terms of the ACH Loan, the Company received $16,605 of proceeds after deductions for a $395 origination fee and $9,163 related to interest. Repayment is achieved through 147 daily bank account withdrawals of $178. The ACH Loan is secured by all current and future assets of the Company. During the three months ended July 31, 2018, the Company repaid a total of $6,229, including $2,182 of interest.