Long term debt and revolving line of credit

12 Months Ended

Dec. 31, 2014

Long term debt and revolving line of credit:

Long term debt and revolving line of credit

Note 15 – Long term debt and revolving line of credit 

Long term debt

	2014	2013
Two auto loans through Compass bank, interest at 7.99% per annum, monthly principle and interest payments of $538, maturing February 2016	$           7,168	0
Auto loan through Ford Credit, interest at 6.64% per annum, monthly principle and interest payments of $467, maturing October 2015	4,088	0
Auto loan through Hyundai Motor Finance, interest at 2.99% per annum, monthly principle and interest payments of $878, maturing December 2018.	38,905	0
Total notes payable	50,160	0
Less:  Current maturities	(18,911)	0
	31,249	0

Revolving line of credit

The Company has a $75,000 unsecured revolving line of credit with Bank of America, with interest at the bank’s prime rate plus 3% due monthly.  The line of credit matures on September 4, 2015.   At December 31, 2014 and 2013, the Company had $60,000 and $0 outstanding on the line of credit, respectively.  The line is secured by a personal guarantee of WCI’s president.