Note 11 - Long-term Debt

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Debt Disclosure [Text Block]

Note 11 – Long–Term Debt

Long–term debt consists of the following (dollars in thousands) :

	Weighted Average Interest Rate		Maturity		March 31, 2020			December 31, 2019
	Variable
Credit facility, interest payable monthly		2.4%		2020	$	50,000		$	10,000
Less current portion						(50,000	)		(10,000	)
Total long-term debt					$	-		$	-

As of March 31, 2020, the available borrowing capacity for the credit facility is $10 million. The credit facility has a maturity date of October 2020. Loans bear interest at either (i) LIBOR plus 1.40% or (ii) the base rate plus 0.40%.