Quarterly report pursuant to Section 13 or 15(d)

Paycheck Protection Program Loans and Economic Injury Disaster Loans (Tables)

v3.22.2.2
Paycheck Protection Program Loans and Economic Injury Disaster Loans (Tables)
9 Months Ended
Sep. 30, 2022
Paycheck Protection Program Loans And Economic Injury Disaster Loans  
Schedule of EIDL loan balances

EIDL loan balances at September 30, 2022 consist of the following:

 

    September 30,
2022
    December 31,
2021
 
July 9, 2020, WCI received an additional Economic Injury Disaster Loan, including accrued interest of $12,043 and $8,424 as of September 30, 2022 and December 31, 2021, respectively. The note is secured by all tangible and intangible personal property of WCI, bears interest at 3.75% per annum, requires monthly installment payments of $731 beginning July 2022, and matures July 2050.     161,943       158,324  
                 
Less: Current maturities     (3,343 )     -  
                 
Long-term portion of economic injury disaster loan   $ 158,600     $ 158,324