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Subsequent Event
3 Months Ended
Mar. 31, 2020
Subsequent Event [Abstract]  
Subsequent Event

Note 17 – Subsequent Event



The COVID-19 pandemic continues to create a general disruption across the world economy.  The United States government and the Mexico Federal Ministry of Health and Federal Ministry of Communications and Transportation cited the railcar industry as critical to the United States and Mexico’s response efforts to the pandemic.



On April 16, 2020, the Company received approximately $10,000 (the “PPP Loan”) from BMO Harris Bank N.A., the Company’s existing lender under the BMO Credit Agreement, pursuant to the Paycheck Protection Program of the CARES Act.  The Company intends to use all proceeds from the PPP Loan to retain employees, maintain payroll and make lease and utility payments to support business continuity throughout the COVID-19 pandemic, which amounts are intended to be eligible for forgiveness, subject to the provisions of the CARES Act. On April 14, 2020, the Company, certain of its subsidiaries, as borrowers and guarantors, and BMO, amended the BMO Credit Agreement, to add CARES Act covenants related to the Company’s PPP Loan.