7. LONG-TERM DEBT

Long-term debt consists of the following:

	December 31,
	2017			2016
Loan from American First National Bank. It has a 20 year amortization and 10 year maturity from December 10, 2009. The loan, in the original amount of $4,209,608, provided funding for the expansion of the warehouse, additional office space, and a new Controlled Environment. The loan is secured by the Company’s land and buildings. The interest rate is 5.968%.	$	3,094,301		$	3,269,397

Note payable to Deutsche Leasing USA, Inc. The interest rate is 3.69%. The original amount of the note was $276,495 with a 36 month maturity ending in July 2018. Beginning August 2015, the loan became payable in equal installments of principal and interest of approximately $8,100. Collateralized by molding machines and ancillary equipment.	56,180			149,727

Note payable to Deutsche Leasing USA, Inc. The interest rate is 4.25%. The original amount of the note was $525,017 with a 36 month maturity ending in November 2019. Beginning December 2016, the loan became payable in equal installments of principal and interest of approximately $15,500. Collateralized by molding machines and ancillary equipment.	341,877			509,513

	3,492,358			3,928,637

Less: current portion	(410,949		)	(430,393		)

	$	3,081,409		$	3,498,244

The fair value of long-term liabilities, based on Management’s estimates, approximates their reported values.

The aggregate maturities of long-term debt as of December 31, 2017, are as follows: