Advances from Financing Companies

3 Months Ended

Mar. 31, 2022

Advances from Financing Companies

Advances from Financing Companies

Note 12. Advances from Financing Companies

The Company utilizes a third-party financing company to provide certain Clients with a rental option. The principal portion of these up-front payments are reported as advances from financing companies in the accompanying condensed consolidated balance sheet. Interest rates applicable to the outstanding advances as of March 31, 2022 ranged from 3.35% to 8.25%.

Client lease payments to third party financing companies will reduce the advances from financing companies as of March 31, 2022 by year as follows (in thousands):

	As of March 31,
	2022
2022	$	10,105
2023		8,024
2024		2,678
2025		109
Total	$	20,916