Revolving Line of Credit, Bank (Details) - Webster Business Credit Corporation |
May 04, 2018
USD ($)
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Mar. 31, 2020
USD ($)
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| Line of Credit Facility [Line Items] | ||
| Line of credit limit | $ 10,000,000 | |
| Fixed charge coverage ratio | 1.10 | |
| Annual financial capital expenditure limit | $ 500,000 | |
| Debt issuance costs incurred | $ 145,011 | |
| Amortization period for debt issuance costs | 3 years | |
| Line of credit outstanding | $ 1,494,821 | |
| Unamortized portion of debt issuance costs | $ 37,861 | |
| One Month LIBOR | ||
| Line of Credit Facility [Line Items] | ||
| Basis spread on variable interest rate (percent) | 3.00% | |
| Lender's Base Rate | ||
| Line of Credit Facility [Line Items] | ||
| Basis spread on variable interest rate (percent) | 1.50% | |
| Federal Funds Rate | ||
| Line of Credit Facility [Line Items] | ||
| Basis spread on variable interest rate (percent) | 0.50% | |
| Lender's Base Rate - One Month LIBOR | ||
| Line of Credit Facility [Line Items] | ||
| Basis spread on variable interest rate (percent) | 2.75% |
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- Definition Debt Covenant, Annual Financial Capital Expenditure Limit No definition available.
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- Definition Debt Covenant, Fixed Charge Coverage Ratio No definition available.
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- Definition Debt Issuance Costs, Amortization Term No definition available.
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- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
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- Definition Amount, before accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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