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LONG-TERM DEBT (Tables)
12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments [Table Text Block]

Long-term debt is as follows:

2020

 

2019

Secured seven-year credit facility to CoBank, ACB, amortizing in

   quarterly installments of $1,152,600 (beginning on September 30,

   2018), plus a notional variable rate of interest through July 31, 2025.

$

51,512,585

 

 $

56,134,400

Secured seven-year revolving credit facility of up to $10,000,000 to

   CoBank, ACB, plus a notional variable rate of interest through

   July 31, 2025.

 

-

   

-

Unsecured two-year SBA PPP Loan of $2,889,000 at 1%  per annum

   from Citizens Bank Minnesota received April 16, 2020. Payments are

   deferred until November 16, 2020 or until the SBA rules on

   Loan Forgiveness, whichever is later. 

 

2,889,000

 

 

-

Less:  Unamortized Loan Fees

 

(451,714)

 

 

(550,270)

   

53,949,871

   

55,584,130

Less:  Amount due within one year

 

(6,886,986)

 

 

(4,610,400)

Less:  Current Portion of Unamortized Loan Fees

 

(98,556)

 

 

(98,556)

Total Long Term Debt

$

47,161,441

 

$

51,072,286

Schedule of Maturities of Long-term Debt [Table Text Block]

2021

$

6,886,986

2022

$

5,222,814

2023

$

4,610,400

2024

$

4,610,400

2025

$

33,070,985