Quarterly report pursuant to Section 13 or 15(d)

Note 17 - Paycheck Protection Plan loans and Economic Injury Disaster Loan: Schedule of Paycheck protection plan loan balances (Tables)

v3.20.2
Note 17 - Paycheck Protection Plan loans and Economic Injury Disaster Loan: Schedule of Paycheck protection plan loan balances (Tables)
6 Months Ended
Jun. 30, 2020
Tables/Schedules  
Schedule of Paycheck protection plan loan balances

 

 

June 30,

 

 

2020

April 23, 2020 loan from Bank of California to Mentor Capital, Inc., including accrued interest of $140 at June 30, 2020. The note bears interest at 1% per annum, maturing April 23, 2022, with monthly principle and interest payments of $4,305 beginning November 1, 2020. The note may be forgiven in its entirety if used for eligible purposes.

$

76,640

 

 

 

May 5, 2020, loan from Republic Bank of Arizona to Waste Consolidators, Inc., including accrued interest of $565 at June 30, 2020. The note bears interest at 1% per annum, maturing May 5, 2022, with monthly principle and interest payments of $21,579 beginning December 15, 2020. The note may be forgiven for all except $10,000 if used for eligible purposes.

 

383,907

 

 

 

Total paycheck protection program loans

 

460,547

 

 

 

Less: Current maturities

 

181,530

 

 

 

Long-term portion of paycheck protection plan loans

$

279,017