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Long Term Debt (Tables) | 3 Months Ended
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Mar. 31, 2021
Debt Disclosure [Abstract] |
Schedule of Long term Debt | Long-term debt consists of the following:
(Amounts in Thousands) |  | March 31, 2021 |  |  | December 31, 2020 |
Revolving Credit facility dated May 8, 2020, borrowings based upon eligible accounts receivable, subject to monthly borrowing base calculation, balance due on May 15, 2024. Effective interest rate for the first quarter of 2021 was 5.3%. (1) |  | $ | — |  |  | $ | — |
Term Loan dated May 8, 2020, payable in equal monthly installments of principal, balance due on May 15, 2024. Effective interest rate for the first quarter of 2021 was 4.5%. (1) |  |  | 1,290 | (2) |  |  | 1,388 | (2)
Promissory Note dated April 14, 2020, balance subject to loan forgiveness. Interest accrues at annual rate of 1.0%. (3) |  |  | 5,318 | (4) |  |  | 5,318 | (4)
Notes Payable to 2023 and 2025, annual interest rate of 5.6% and 9.1%. |  |  | 49 |  |  |  | 23 |
Total debt |  |  | 6,657 |  |  |  | 6,729 |
Less current portion of long-term debt |  |  | 5,196 |  |  |  | 3,595 |
Long-term debt |  | $ | 1,461 |  |  | $ | 3,134 |
(1) Our revolving credit facility is collateralized by our accounts receivable and our term loan is collateralized by our property, plant, and equipment. (2) Net of debt issuance costs of ($97,000) and ($105,000) at March 31, 2021 and December 31, 2020, respectively. (3) Uncollateralized note. (4) Entered into with the Company’s credit facility lender under the PPP under the CARES Act (see “Paycheck Protection Program (“PPP”) Loan” below for further information on this loan and its terms).

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