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v3.21.1

Notes Payable and Lines of Credit (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2021
Notes Payable [Abstract] |
Notes payable |
|  | March 31, 2021 |  |  | December 31, 2020 |
Notes payable-NextGen dated February 8, 2017. Interest is payable semi-annually at 6.5% through February 9, 2019 and 8.5% through February 10, 2020 and 10.0% thereafter through maturity, which is January 31, 2021. |  | $ | - |  |  | $ | 833,334 |
Notes payable-private placement dated March 31, 2017. Interest is payable semi-annually at 8.5% through March 31, 2020 and 10.0% thereafter through maturity which is June 30, 2021 |  |  | 297,411 |  |  |  | 669,175 |
Notes payable-Bridge loan dated March 12, 2021. Facility provides up to $2,500,000 of available credit secured by certain intellectual assets. Interest rate at 12.0% annually payable at maturity which is the earlier of September 21, 2021 or upon the issuance of debt or equity above a certain threshold. |  |  | 2,500,000 |  |  |  | - |
Line of credit-NextGear floor plan dated October 30, 2018. Secured by vehicle inventory and other assets. Interest rate on March 31, 2021 was 8.25%. Principal and interest is payable on demand. |  |  | 27,043,101 |  |  |  | 17,811,626 |
Line of Credit- RumbleOn Finance. Line of credit secured by the loans and other assets of RumbleOn Finance, LLC. Interest rate on March 31, 2021 was 7.25%. Principal and interest is payable on demand. |  |  | 2,500,000 |  |  |  | 888,852 |
Notes payable-PPP Loans dated May 1, 2020. Payments of principal and interest were deferred until September 1, 2021, at which time the Company will make equal payments of principal and interest through maturity, which is April 1, 2025. |  |  | 5,176,845 |  |  |  | 5,176,845 |
Total notes payable and lines of credit |  | $ | 37,517,357 |  |  | $ | 25,379,832 |
Less: Current portion |  |  | 32,826,176 |  |  |  | 20,688,651 |
Long-term portion |  | $ | 4,691,181 |  |  | $ | 4,691,181 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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