DEBT (Tables)

3 Months Ended

Mar. 31, 2025

DEBT

Schedule Of Long-term Debt

	Outstanding Balance
	March 31,		December 31,
	2025		2024
Consumer
Note payable, FSB (1)	$	2,427,076	$	2,455,043
Note payable, Truist Bank (3)		791,523		801,175
Notes payable, TBT (4,5)		1,951,917		1,979,730
Note payable, Scottsdale Transaction (6)		50,000		50,000
Sub-total		5,220,516		5,285,948
Commercial
Note payable, FSB (2)		5,505,712		5,569,171
Note payable, Avail Transaction (7)		—		166,667
Sub-total		5,505,712		5,735,838
Corporate
Line of credit, FSB (8)		—		—
Note payable, TBT (9)		2,469,769		2,500,393
Sub-total		2,469,769		2,500,393
Total		13,195,997		13,522,179
Less: current portion		(3,399,409)		(3,591,351)
	$	9,796,588	$	9,930,828

(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 matured and was paid in full 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.

(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 3, 2025.

Schedule of Future Payments of Notes Payable, Related Party

	2025		2026		2027		2028		2029		Thereafter
Consumer
Note payable, FSB (1)		84,595		2,342,480		—		—		—		—
Note payable, Truist Bank (3)		29,093		40,203		41,716		43,216		44,913		592,381
Notes payable, TBT (4,5)		465,364		71,592		74,324		77,018		80,097		1,183,524
Note payable, Scottsdale Transaction (6)		37,250		12,750		—		—		—		—
Sub-total		616,302		2,467,025		116,040		120,234		125,010		1,775,905
Commercial
Note payable, FSB (2)		191,007		5,314,705		—		—		—		—
Sub-total		191,007		5,314,705		—		—		—		—
Corporate
Line of credit, FSB (8)		—		—		—		—		—		—
Note payable, TBT (9)		2,469,769		—		—		—		—		—
Sub-total		2,469,769		—		—		—		—		—
	$	3,277,078	$	7,781,730	$	116,040	$	120,234	$	125,010	$	1,775,905

Schedule of maturities of long-term debt of Principal Payments

	Scheduled
	Principal		Loan
Scheduled Principal Payments and Maturities by Year	Payments		Maturities		Total
2025		484,878		2,792,200		3,277,078
2026		470,473		7,311,257		7,781,730
2027		116,040		—		116,040
2028		120,234		—		120,234
2029		125,010		—		125,010
Thereafter		175,712		1,600,193		1,775,905
	$	1,492,347	$	11,703,650	$	13,195,997