|
Note
15 – Term Loan
Term
debt as of December 31, 2021 and 2020 consists of the following:
Schedule of term debt
| |
|
2021 |
|
|
2020 |
|
| Bank of America auto loan, interest at 2.37% per annum, monthly principal and interest payments of $1,448, collateralized by vehicle. Vehicle was sold and the loan paid off in 2021. |
|
$ |
- |
|
|
$ |
81,812 |
|
| |
|
|
|
|
|
|
|
|
| Bank of America auto loan, interest at 2.49% per annum, monthly principal and interest payments of $1,505, maturing July 2025, collateralized by vehicle. |
|
|
61,710 |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
| Bank of America auto loan, interest at 2.24% per annum, monthly principal and interest payments of $654, maturing October 2025, collateralized by vehicle. |
|
|
28,162 |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
| Total notes payable |
|
|
89,872 |
|
|
|
81,812 |
|
| Less: Current maturities |
|
|
(23,203 |
) |
|
|
(15,566 |
) |
| |
|
|
|
|
|
|
|
|
| Long term debt |
|
$ |
66,669 |
|
|
$ |
66,246 |
|
|