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Note 8. Line of Credit
9 Months Ended
Sep. 30, 2019
Line of Credit Facility [Abstract]  
Line of Credit

Effective October 4, 2018, the Company renewed its Line of Credit, which increased the amount of funds available for borrowing from $2,500,000 to $3,000,000. The interest rate was reduced from LIBOR plus 2.50% to LIBOR plus 1.75%. As of September 30, 2019, the interest rate was 3.77% and the Company did not owe any amounts on the Line of Credit.

 

The Company subsequently renewed its Line of Credit, effective October 3, 2019. The renewal increased the term to two years, with all other provisions remaining the same.