SHORT-TERM BORROWINGS	12 Months Ended
Dec. 31, 2020
SHORT-TERM BORROWINGS
SHORT-TERM BORROWINGS	10. SHORT-TERM BORROWINGS At December 31, 2020, the Company had a $30 million revolving line of credit with a bank that is secured by a lien against the Company’s general corporate assets. The line of credit bears interest at the LIBOR plus 1.35% and expires on November 4, 2021. The related credit agreement contains customary representations, warranties, and covenants (including a minimum tangible net worth financial covenant) for a facility of this type. At December 31, 2020, there was no amounts outstanding on the Company’s line of credit. The highest balance on the current and prior line of credit during 2020 was $8.5 million. At December 31, 2019, outstanding borrowings under a previous revolving line of credit with the Company's former bank were approximately $7.0 million at an interest rate of 2.5%.

SHORT-TERM BORROWINGS

12 Months Ended

Dec. 31, 2020

10. SHORT-TERM BORROWINGS

At December 31, 2020, the Company had a $30 million revolving line of credit with a bank that is secured by a lien against the Company’s general corporate assets. The line of credit bears interest at the LIBOR plus 1.35% and expires on November 4, 2021. The related credit agreement contains customary representations, warranties, and covenants (including a minimum tangible net worth financial covenant) for a facility of this type.

At December 31, 2020, there was no amounts outstanding on the Company’s line of credit. The highest balance on the current and prior line of credit during 2020 was $8.5 million. At December 31, 2019, outstanding borrowings under a previous revolving line of credit with the Company's former bank were approximately $7.0 million at an interest rate of 2.5%.