	Balance outstanding as of December 31,
	2020			2019
Term Loan - ("FCC Loan") - repayable by monthly principle of payments of $164 and accrued interest at a rate of 3.79%; matures April 1, 2025	$	28,690		$	31,306
Term Loan - VFCE: CA$3.0M - non-revolving fixed rate loan with fixed interest rate of 4.98%; matures June 2023		797			1,066
Advance on term loan - VFCE: CA$250 - repayable in monthly installments of principle plus interest rate of CA$ prime rate plus 200 basis points		69			106
Term Loan - Pure Sunfarms - CA$19.0M - Canadian prime interest rate plus an applicable margin, repayable in quarterly payments equal to 2.50% of the outstanding principal amount, interest rate of 4.2%; matures February, 2022		13,385			—
Term loan - Pure Sunfarms - CA$25.0 - Canadian prime interest rate plus an applicable margin, repayable in quarterly payments equal to 2.50% of the outstanding principal amount starting June 30, 2021, interest rate of 4.2%; matures February 2022		16,535			—
BDC Facility - Pure Sunfarms - non-revolving demand loan at prime interest plus 3.75%		4,905			—
Unamortized deferred financing fees		(302	)		(89	)
Total	$	64,079		$	32,389

The Company has a line of credit agreement with a Canadian Chartered Bank (“Operating Loan”). The revolving Operating Loan has a line of credit up to C$13,000, less outstanding letters of credit totaling US$150 and C$38, and variable interest rates with a maturity date on May 31, 2021. The Operating Loan is subject to margin requirements stipulated by the bank. As of December 31, 2020 and December 31, 2019, the amount drawn on this facility was US$2,000.

As collateral for the FCC Loan, the Company has provided promissory notes, a first mortgage on the VFF-owned greenhouse properties (excluding the Delta 3 and Delta 2 greenhouse facilities), and general security agreements over its assets. In addition, the Company has provided full recourse guarantees and has granted security therein. The carrying value of the assets and securities pledged as collateral as at December 31, 2020 and 2019 was $86,664 and $155,548, respectively.

As collateral for the Operating Loan, the Company has provided promissory notes and a first priority security interest over its accounts receivable and inventory. In addition, the Company has granted full recourse guarantees and security therein. The carrying value of the assets pledged as collateral as at December 31, 2020 and 2019 was $23,443 and $24,915, respectively.

The Company’s borrowings (“Credit Facilities”), excluding Pure Sunfarms borrowings, are subject to certain positive and negative covenants, including debt ratios, and the Company is required to maintain certain minimum working capital. In December 2020, the Company amended the terms of its covenants with respect to its FCC Loan. The amended covenants have been waived for the year ending December 31, 2020 and will be reinstated for fiscal year 2021. As of December 31, 2020, the Company was in compliance with all of its other Credit Facility covenants under its Credit Facilities.

Pure Sunfarms entered into a revolving line of credit on June 30, 2020 with a Canadian chartered bank up to a maximum of $15,000. Interest is payable at the Canadian prime rate plus an applicable margin. As of December 31, 2020, no advances were made on this facility. On December 31, 2020, the Company had outstanding a $4,039 letter of credit issued to BC Hydro against the revolving line of credit.

The term loan held by the Company’s subsidiary Pure Sunfarms of C$17.5 million (US$13.3 million) was entered into on February 7, 2019 and amended on June 30, 2020 and is secured by a first-ranking security interest in respect of all present and future property, assets and undertakings of the Company.

The term loan held by the Company’s subsidiary Pure Sunfarms of C$22.5 million (US$16.5 million) was entered into on April 2, 2020 and amended on June 30, 2020 and is secured by a first-ranking security interest in respect of all present and future property, assets and undertakings of the Company.

On December 20, 2020 Pure Sunfarms entered into a C$6,250 non-revolving demand loan at prime interest plus 3.75% with a Canadian Chartered Bank with the financial support of the Business Development Bank of Canada (the “BDC Facility”). The BDC Facility, provided as part of COVID-19 relief, requires interest only payments monthly for the first twelve months, and commencing December 31, 2021 and maturing December 31, 2031, Pure Sunfarms will repay the outstanding principal amount in equal monthly installments. The outstanding amount on the loan was US$4,905 on December 31, 2020.

Pure Sunfarms is required to comply with financial covenants, measured quarterly. As of December 31, 2020, the Company was in compliance with the financial covenants.

The Company has a note payable due to Emerald Health of C$19.9 million (US$15.2 million), plus accrued interest in the statement of financial position that it originally issued to Emerald as partial consideration for the November 2, 2020 acquisition of Pure Sunfarms. The note and accrued interest were repaid to Emerald Health in full on February 8, 2020 (note 20).

The weighted average interest rate on short-term borrowings as of December 31, 2020 and 2019 was 5.11% and 6.2%, respectively.

Accrued interest payable on the credit facilities and loans as of December 31, 2020 and 2019 was $189 and $162, respectively, and these amounts are included in accrued liabilities in the statements of financial position.

The aggregate annual principal maturities of long-term debt for the next five years and thereafter are as follows:

2021	$	7,187
2022		29,909
2023		2,960
2024		2,760
2025		22,297
Thereafter		3,468
	$	68,581