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Note 6 - Line-of-credit | 12 Months Ended
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Sep. 30, 2025
Notes to Financial Statements |
Debt Disclosure [Text Block] |
6. | LINE-OF-CREDIT
The Company had been operating with a line-of-credit in the principal amount of $25 million that it renewed annually each March. On March 31, 2025, Roanoke Gas amended its line-of-credit to increase the principal amount to $30 million and extend the maturity date to March 31, 2027. The line-of-credit's variable interest rate is based upon Term SOFR plus 1.25% and provides for multiple-tier borrowing limits to accommodate seasonal borrowing demands. The Company's total borrowing limits during the term of the line-of-credit range from $20 million to $30 million. As of September 30, 2025, the Company had an outstanding balance of $11,916,760 under the line-of-credit. The Company's total available borrowing limits for the remaining term are as follows:
|  |  | Available |
|  |  | Line-of-Credit |
As of September 30, 2025 |  |  | $ | 20,000,000 |
October 1, 2025 through March 31, 2026 |  |  |  | 30,000,000 |
April 1, 2026 through September 30, 2026 |  |  |  | 20,000,000 |
October 1, 2026 through March 31, 2027 |  |  |  | 30,000,000 |
A summary of the line-of-credit follows:
|  | September 30 |
|  | 2025 |  |  | 2024 |
Borrowing limit at year-end |  | $ | 20,000,000 |  |  | $ | 20,000,000 |
Outstanding balance at year-end |  |  | 11,916,760 |  |  |  | 11,166,181 |
Average rate of interest during year on outstanding balances |  |  | 5.56 | % |  |  | 6.39 | %
Interest rate at year-end |  |  | 5.42 | % |  |  | 6.29 | %
Interest rate on unused line-of-credit |  |  | 0.25 | % |  |  | 0.15 | %

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