Note Payable, SBA Loan (Table)

9 Months Ended

Apr. 30, 2022

Note Payable, SBA Loan

Note Payable, SBA Loan

	April 30,		July 31,
	2022		2021
On September 2, 2020, the Company, borrowed $150,000 from Standard Financing, pursuant to a Promissory Note issued by the Company to Standard Financing (the “SBA Loan”). The loan was made pursuant to the Covid-19 Economic Injury Disaster Loan Program established as part of the Coronavirus Aid, Relief, and Economic Security Act (the “EIDL Program”). The SBA Loan carried interest at 3.75% per annum, payable in $731 monthly payments over thirty (30) years from the date of the note, with the initial payment deferred until September 2, 2022.	$	150,000	$	150,000
Total note payable, SBA loan	$	150,000	$	150,000