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Borrowings (Tables)

12 Months Ended

Dec. 31, 2022

Borrowings [Abstract]

Schedule of Short-Term Borrowings

As of December 31, 2021 and 2022, the bank borrowings were for working capital and capital expenditure purposes. Short-term borrowings consisted of the following:

		Annual Interest							December 31,
		Rate				Maturity			2021				2022
Huaxia Bank Shanghai Branch Sales Department			2-4.75	%		August to September, 2023			$	15,692			$	11,567
China Merchants Bank Shanghai Damuqiao Branch			4.8-5.3	%		February to May, 2023				7,783				9,961
China Minsheng Bank Shanghai Jiujiang Branch			3.70-3.85	%		January to July, 2023				7,736				7,249
Bank of Communications Shanghai Putuo Branch(i)			4.79	%		January, 2023				7,846				7,249
Putuo Branch of Shanghai Pudong Development Bank(i)			4.60	%		April, 2023				2,354				4,350
Bank of Dalian Shanghai Jing’an Sub-branch(i)			4.31-5.12	%		March to May, 2023				4,708				4,350
Bank of Beijing Shanghai Zhangjiang Sub-branch(i)			4.80	%		December, 2023				3,138				4,350
China Construction Bank Shanghai Jing’an Branch(i)			3.70	%		June, 2023				1,569				4,350
Bank of China Shanghai Gonghexin Road Sub-branch(ii)			3.65-4.22	%		March to November, 2023				3,923				4,277
Bank of Nanjing North Bund Branch(i)			5.50	%		January, 2023				-				3,625
Huangpu Branch of Bank of Shanghai(ii)			4.70	%		February, 2023				2,354				2,900
Industry bank Shanghai Zhijiang Branch(i)			4.65-5.05	%		February, 2023				-				2,900
ICBC Shanghai Zhang Jiang high tech Park Branch(i)			3.30	%		September, 2023				-				2,610
Xiamen International Bank Shanghai Jinqiao Branch(i)			5.20	%		June, 2023				-				1,450
China CITIC Bank Shanghai Pudian Road Branch			4.65	%		April, 2023				-				1,435
Bank of Beijing Shanghai Branch			4.31	%		March, 2023				785				1,160
Shanghai Rural Commercial Bank Minhang Branch (ii)			5.20	%		June, 2023				942				870
Shanghai Rural Commercial Bank Bund Branch(i)			4.80	%		February to March, 2022				5,492				-
Fubon Huayi Bank Shanghai Jing’an Branch			5.60	%		January, 2022				785				-
Zheshang Bank Shanghai Branch Sales Department(i)			6.00	%		October, 2022				3,138				-
ICBC Xinzha Road Branch			3.85	%		March, 2022				785				-
Total									$	69,030			$	74,653

(i) The bank borrowings were guaranteed by SUNCAR Online, one of subsidiaries of SunCar.

(ii) The bank borrowings were guaranteed by Shengda Automobile, one of subsidiaries of SunCar.

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- Definition

Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

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