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Line of Credit
6 Months Ended
Sep. 30, 2016
Line Of Credit Facility [Abstract]  
Line of Credit
5. Line of Credit

The Company has a line of credit facility (the “Line”) up to $225.0 million The pricing of the Line, which expires on January 30, 2018, is 300 basis points above 30-day LIBOR with a 1% floor on LIBOR (4.00% at September 30, 2016 and March 31, 2016). Pledged as collateral for this Line are all of the assets of the Company. The outstanding amount of the Line was $209.0 million and $211.0 million as of September 30, 2016 and March 31, 2016, respectively. The amount available under the Line was $16.0 million and $14.0 million as of September 30, 2016 and March 31, 2016, respectively.

The facility requires compliance with certain financial ratios and covenants and satisfaction of specified financial tests, including maintenance of asset quality and performance tests As of September 30, 2016, the Company was in full compliance with all debt covenants.