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Note 6 - Line of Credit
3 Months Ended
Mar. 31, 2015
Notes to Financial Statements  
Line of Credit [Text Block]
6.
Line of credit
 
On December 5, 2012, the Company entered into an Amended and Restated Credit Agreement (“Restated Agreement”) with Sovereign Bank, now called Santander Bank, N.A. (“Santander”), as the sole arranger, administrative agent and collateral agent and Valley National Bank. The Restated Agreement provides for a revolving credit loan (“Santander Revolving Facility”) commitment of $35 million.
 
As of March 31, 2015, the Company was in compliance with all of the financial covenants contained in the Restated Agreement, as amended. As of March 31, 2015, the Company had $29.15 million outstanding under the “Restated Agreement” bearing interest at 3.25%.
 
The Santander Revolving Facility and term loan under the Restated Agreement are secured by all our assets.