LONG-TERM LOANS

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

LONG-TERM LOANS

NOTE 13 — LONG-TERM LOANS

As of December 31, 2024 and 2023, the Company’s long-term loans from banks and other financial institution consist of following: 

Indebtedness	Weighted Average Interest Rate*			Weighted Average Years to Maturity*		December 31, 2024			December 31, 2023
Guaranteed loans
Fixed rate loans		0.04	%		0.08	$	185,766		$	575,191
Variable rate loans		1.15	%		2.83		6,377,998			289,226
Subtotal		1.19	%		2.91		6,563,764			864,417
Unsecured loans
Fixed rate loans		0.01	%		0.00		35,742			354,522
Subtotal		0.01	%		0.00		35,742			354,522
Total long-term loans		1.20	%		2.91		6,599,506			1,218,939
Less: current portion							(96,824	)		(156,217	)
Non-current portion						$	6,502,682		$	1,062,722

* Pertained to information for loans outstanding as of December 31, 2024.

SBC MEDICAL GROUP HOLDINGS INCORPORATED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 13 — LONG-TERM LOANS (cont.)

The Company borrowed loans from various banks and a financial institution for working capital purposes.

Interest expense was $28,300 and $45,292 for the years ended December 31, 2024 and 2023, respectively.

The guaranteed information of the Company’s outstanding loans as of December 31, 2024 and 2023 consists of the following: 

	December 31, 2024		December 31, 2023
Co-guaranteed by CEO of subsidiaries within the Company’s organizational structure and Tokyo Credit Guarantee Association	$	185,766	$	747,474
Co-guaranteed by CEO of a subsidiary within the Company’s organizational structure and Kanagawa Credit Guarantee Association	$	—	$	116,943
Guaranteed by a subsidiary within the Company’s organizational structure	$	6,377,998	$	—

As of December 31, 2024, future minimum payments for long-term loans are as follows:

Years ending December 31,	Principal Repayment
2025	$	96,824
2026		66,580
2027		6,436,102
2028		—
2029 and thereafter		—
Total	$	6,599,506