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Note 6 - Line-of-credit
 12 Months Ended
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%