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DEBT (Tables)

12 Months Ended

Dec. 31, 2024

DEBT

Schedule Of Long-term Debt


		Outstanding Balance
		December 31,			December 31,
		2024			2023
Consumer
Note payable, FSB ⁽¹⁾		$	2,455,043		$	2,563,108
Note payable, Truist Bank ⁽³⁾			801,175			838,430
Notes payable, TBT ^(4,5)			1,979,730			2,064,928
Note payable, Scottsdale Transaction ⁽⁶⁾			50,000			200,000

Sub-total			5,285,948			5,666,466

Commercial
Note payable, FSB ⁽²⁾			5,569,171			5,815,381
Note payable, Avail Transaction ⁽⁷⁾			166,667			833,333

Sub-total			5,735,838			6,648,714

Corporate
Line of credit, FSB ⁽⁸⁾			—			—
Note payable, TBT ⁽⁹⁾			2,500,393			2,618,311

Sub-total			2,500,393			2,618,311

Total			13,522,179			14,933,491

Less: current portion			(3,591,351)			(1,361,443)

		$	9,930,828		$	13,572,048

Schedule of maturities of long-term debt of Principal Payments


	2025			2026			2027			2028			2029			Thereafter
Consumer
Note payable, FSB ⁽¹⁾		112,570			2,342,474			—			—			—			—
Note payable, Truist Bank ⁽³⁾		38,745			40,203			41,716			43,216			44,913			592,381
Notes payable, TBT ^(4,5)		487,260			71,359			74,081			76,767			79,836			1,190,427
Note payable, Scottsdale Transaction ⁽⁶⁾		31,250			18,750			—			—			—			—

Sub-total		669,825			2,472,786			115,797			119,983			124,749			1,782,808

Commercial
Note payable, FSB ⁽²⁾		254,466			5,314,705			—			—			—			—
Note payable, Avail Transaction ⁽⁷⁾		166,667			—			—			—			—			—

Sub-total		421,133			5,314,705			—			—			—			—

Corporate
Line of Credit, FSB ⁽⁸⁾		—			—			—			—			—			—
Note payable, TBT ⁽⁹⁾		2,500,393			—			—			—			—			—

Sub-total		2,500,393			—			—			—			—			—

	$	3,591,351		$	7,787,491		$	115,797		$	119,983		$	124,749		$	1,782,808

(1)	On November 23, 2021, the consumer segment entered into a $2.781 million secured amortizing note payable with Farmer’s State Bank of Oakley, Kansas (“FSB”). The note payable bears interest at 3.10% and matures on November 15, 2026.

(2)	On November 23, 2021, the commercial segment entered into a $6.309 million secured amortizing note payable with FSB. The note payable bears interest at 3.10% and matures on November 15, 2026.

(3)	On July 9, 2020, the consumer segment entered into a $956 thousand secured amortizing note payable with Truist Bank. The note payable bears interest at 3.65% and matures on July 9, 2030.

(4)	On September 14, 2020, the consumer segment entered into a $496 thousand secured amortizing note payable with Texas Bank & Trust (“TBT”). The note payable bears interest at 3.75% and matures on September 14, 2025.

(5)	On July 30, 2021, the consumer segment entered into a $1.772 million secured amortizing note payable with TBT. The note payable bears interest at 3.75% and matures on July 30, 2031.

(6)

On September 12, 2024, the consumer segment entered into a $50 thousand secured amortizing note payable in relation to the Scottsdale Transaction. The repayment of the note payable shall begin upon the fulfillment of certain terms and conditions under the asset purchase agreement entered into on September 12, 2024. The note payable’s imputed interest is 3.10% and matures on September 30, 2026.

(7)	On October 29, 2021, the consumer segment entered into a $2.000 million secured amortizing note payable in relation to the acquisition of Avail Recovery Solutions, LLC on October 29, 2021 (“Avail Transaction"). The note payable’s imputed interest is 3.10% and matures on January 1, 2025.

(8)	On November 8, 2024, the Company entered into a $3.800 million secured line of credit with FSB. The line of credit bears interest at our rate of deposit + 1.00% with a floor of 3.10% and matures on November 23, 2027. This note was

previously presented within our commercial segment and is now presented within corporate as the line of credit provides borrowing capacity for all segments.

(9)	On November 4, 2020, a wholly owned subsidiary of Envela entered into a $2.960 million secured amortizing note payable with TBT. The note payable bears interest at 3.25% and matures on November 4, 2025.


		Scheduled
		Principal			Loan
Scheduled Principal Payments and Maturities by Year		Payments			Maturities			Total
2025			798,947			2,792,404			3,591,351
2026			476,241			7,311,250			7,787,491
2027			115,797			—			115,797
2028			119,983			—			119,983
2029			124,749			—			124,749
Thereafter			172,583			1,610,225			1,782,808

		$	1,808,300		$	11,713,879		$	13,522,179