# Stewards, Inc. (SWRD) — management_change/board [announced]
Source: SEC API (secapi.ai) · situation sit_51aaba0e2de499a61a37 · retrieved 2026-08-12T07:00:05.515Z

## Overview
Stewards, Inc. is a short-term business credit institution incorporated in Nevada.

Stewards, Inc. entered into Amendment No. 1 to a Promissory Note with FAVO Holdings, LLC on August 5, 2026 (effective June 1, 2026). The amendment extends the maturity date of the final $1,600,000 installment from May 31, 2026 to September 1, 2026. The interest rate on the outstanding principal increases from 6.0% to 10.0% per annum from June 1, 2026 through September 1, 2026, aggregating $40,000 in interest due at maturity. The 15% default interest rate is waived for the extension period; however, if the company fails to pay in full by September 1, 2026, the default rate is reinstated on all amounts outstanding. FAVO Holdings is owned 65% by Vincent Napolitano and 35% by Shaun Quin, the company's Chief Executive Officer and director, making this a related-party transaction.

## Terms
- Counterparty: FAVO Holdings, LLC · Deal value: $1.6M

## Key dates
- Announced 2026-08-07 · Expiry 2026-09-01

## Timeline
- 2026-08-07 · 8-K (0001663577-26-000243): 8-K - Stewards, Inc. — *Stewards, Inc. is a short-term business credit institution incorporated in Nevada.* Stewards, Inc. entered into Amendment No. 1 to a Promissory Note with FAVO Holdings, LLC on August 5, 2026 (effective June 1, 2026). The amendment extends the maturity date of the final $1,600,000 installment from May 31, 2026 to September 1, 2026. The interest rate on the outstanding principal increases from 6.0% to 10.0% per annum from June 1, 2026 through September 1, 2026, aggregating $40,000 in interest due at maturity. The 15% default interest rate is waived for the extension period; however, if the company fails to pay in full by September 1, 2026, the default rate is reinstated on all amounts outstanding. FAVO Holdings is owned 65% by Vincent Napolitano and 35% by Shaun Quin, the company's Chief Executive Officer and director, making this a related-party transaction.
  https://www.sec.gov/Archives/edgar/data/1795851/0001663577-26-000243.txt

## Citations
- 0001663577-26-000243 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000166357726000243