Credit Facility	12 Months Ended
Dec. 31, 2020
Credit Facility
Note 5. Credit Facility	Note 5: Credit Facility In March 2016, the Company entered into a $2.5 million revolving loan agreement (the “Credit Facility”) with Western Alliance Bank. The agreement originally matured on March 21, 2018 and was amended to mature on June 19, 2022. There are no mandatory amortization provisions, and the Credit Facility is payable in full at maturity. As of December 31, 2020, the Credit Facility is collateralized by a lien on substantially all of the existing and future assets of the Company and secured by a pledge of 100% of the capital stock of SharpSpring Technologies, Inc. and a 65% pledge of the Company’s foreign subsidiaries’ stock. The Credit Facility subjects the Company to a number of restrictive covenants, including financial and non-financial covenants customarily found in loan agreements for similar transactions. The Credit Facility also restricts our ability to pay cash dividends on our common stock. As of December 31, 2020, the Credit Facility carried an interest rate of 5.0% and there was $1.90 million outstanding on the Line of Credit. As of December 31, 2019, there was no amount outstanding on the Line of Credit. The Company has a $0.60 million available credit limit on its corporate credit cards which reduces the balance available on the Credit Facility. The interest expense relating to the Credit of Facility for the years ended December 31, 2020 and 2019 was $0.08 million and $0, respectively. No events of default have occurred.

Credit Facility

12 Months Ended

Dec. 31, 2020

Note 5: Credit Facility

In March 2016, the Company entered into a $2.5 million revolving loan agreement (the “Credit Facility”) with Western Alliance Bank. The agreement originally matured on March 21, 2018 and was amended to mature on June 19, 2022. There are no mandatory amortization provisions, and the Credit Facility is payable in full at maturity. As of December 31, 2020, the Credit Facility is collateralized by a lien on substantially all of the existing and future assets of the Company and secured by a pledge of 100% of the capital stock of SharpSpring Technologies, Inc. and a 65% pledge of the Company’s foreign subsidiaries’ stock. The Credit Facility subjects the Company to a number of restrictive covenants, including financial and non-financial covenants customarily found in loan agreements for similar transactions. The Credit Facility also restricts our ability to pay cash dividends on our common stock. As of December 31, 2020, the Credit Facility carried an interest rate of 5.0% and there was $1.90 million outstanding on the Line of Credit. As of December 31, 2019, there was no amount outstanding on the Line of Credit. The Company has a $0.60 million available credit limit on its corporate credit cards which reduces the balance available on the Credit Facility. The interest expense relating to the Credit of Facility for the years ended December 31, 2020 and 2019 was $0.08 million and $0, respectively. No events of default have occurred.