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SHORT-TERM DEBT | 12 Months Ended
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Dec. 31, 2020
SHORT-TERM DEBT |
SHORT-TERM DEBT | 9. SHORT-TERM DEBT ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | As of December 31,
​ |  | Note |  | 2019 |  | 2020
Bank of Beijing |  | (i) | ​ | $ | 718 | ​ | $ | 307
East West Bank |  | (ii) | ​ |  | 9,182 | ​ |  | 8,130
Others | ​ | (iii) | ​ | ​ | 6,730 | ​ |  | 6,820
Total |  |  | ​ | $ | 16,630 | ​ | $ | 15,257
| (i) | In April 2019, the Company entered into a loan agreement with Bank of Beijing for $718 in aggregate. The loan bears annual interest rates of 5.665%. The Company has repaid $411 before the end of 2020 and the remaining balance of the loan was fully paid on April 25, 2021.
| (ii) | The annum interest rate of borrowings from East West Bank was range from 2.800% to 6.000%. As of December 31, 2020, the Company has two outstanding loans of amount $6,130 and $2,000, which maturity date is June 30, 2021 and August 31, 2021, respectively. The loan with amount of $6,130 was guaranteed by a wholly-owned subsidiary of Renren Inc, Qianxiang Shiji Technology Development (Beijing) Co., Ltd.
The loan with amount of $2,000 was under an irrevocable standby letter of credit issued by East West Bank to Renren in April 2019 with Renren’s restricted cash pledged as security.
| (iii) | These loans were borrowed from individuals or other financing institution other than banks, the annum interest rate was range from 10.800% to 14.000%. As of December 31, 2020, the Company has defaulted and delayed the repayment of three loans with amount of $383, $3,065, $3,372, which has been fully repaid in January 2021.
The interest expense was $4,261, $4,057, and $1,183 for the years ended December 31, 2018, 2019 and 2020, respectively. ​

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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