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Note 15 - Subsequent Events
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Subsequent Events [Text Block]
15.
     Subsequent Events
 
Appointment of President and Chief Executive Officer ("
CEO
") of SPAR
 
On
February 16, 2021,
SPAR Group, Inc. issued a Press Release (the "
Release
") announcing the appointment and election of Mike Matacunas on
February 4, 2021,
as the Company's new President and Chief Executive Officer (the "
CEO
") pursuant to the action of SPAR Group's Board of Directors (the "
Board
"), and his appointment and election as a Director of SPAR Group, Inc. by the independent Directors of SGRP. Mr. Matacunas commenced his role on
February 22, 2021.
In this role, Mr. Matacunas will be responsible for setting global strategy, overseeing operations and growing a business with more than
20,000
merchandising specialists.  Mr. Matacunas will be both an Executive and an Officer (as defined in SGRP's By-Laws) and will report directly to the Board. He also was elected to the Board as a Director.
 
North Mill (NM) Loan Modification
 
On
March 22, 2021,
NM Loan Parties and NM executed and delivered a Second Modification Agreement entered in as of
March 22, 2021,
and effective as of
April 1, 2021 (
the "
Modification Agreement
"), pursuant to which NM and the NM Loan Parties agreed to extend the NM Loan Agreements from
April 10, 2022
to
October 10, 2023,
and increased the amounts of the credit facilities for SMF to
$16.5
(USD) million in the USA while the SCC facility remained at
$1.5
(CDN) million in Canada; in addition, the Modification Agreement increased SMF's borrowing base availability for unbilled receivables to up to
70%
permanently, and increased the unbilled cap for SMF to
$5.5
(USD) million from
$4.5
(USD) million.  The Restated US Note and Restated Canadian Note (together, the "
NM Notes
") will require the NM Borrowers to pay interest on the loans thereunder equal to: (A) Prime Rate designated by Wells Fargo Bank, plus; (B)
one hundred twenty-five
basis points (
0.95%
) or a minimum of
5.25%.
In addition, the Company continues to pay a facility fee to NM of
0.8%
decreased from
1.5%
for the
first
$10,5
million loan balance, or
$84,000
per year, over the term of the agreement, plus a
$15,000
one
-time fee for each incremental
$1
million increase in loan balance up to
$16.5
million.  Additionally, the early termination fee has decreased from
1%
to
0.85%
of on the advance limit.
 
Loan to Majority Shareholders
 
On
March 25, 2021,
the Company has entered a short-term loan agreement with Mr. William H. Bartels, for the total amount of
$100,000.
  The loan shall bear interest at a fixed annual rate equal to
2%
per annum through the maturity date of
May 25, 2021. 
After the maturity date, all outstanding obligations shall bear interest until paid in full at the fixed annual rate equal to
6%
per annum, compounded monthly. Mr. Bartels has agreed to secure the obligations with equivalent shares of common stock issued by SPAR Group, Inc.