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Borrowings
9 Months Ended
Jun. 26, 2015
Borrowings

NOTE 8 – BORROWINGS

The Company’s credit agreement allows for borrowing up to 80% of its eligible accounts receivable with a maximum borrowing capacity of $12.0 million. The credit agreement has interest rates ranging from LIBOR + 2.25% to Prime + 0.75%, expires on November 21, 2015, and is secured by substantially all of the assets of the Company. As of June 26, 2015 the Company’s borrowing capacity was $12.0 million. There were no amounts outstanding under the Company’s credit agreement as of June 26, 2015 and September 26, 2014. The credit agreement contains certain financial covenants, with which the Company was in compliance as of June 26, 2015. On August 5, 2015 the Company entered into an amendment to the Company’s credit agreement with Silicon Valley Bank. The amendment extends the term of the credit agreement for an additional two year term with an expiration date of August 5, 2017 and increases the borrowing capacity to $14.0 million.