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(7) Revolving Line of Credit
12 Months Ended
Dec. 29, 2018
Debt Disclosure [Abstract]  
(7) Revolving Line of Credit

(7) Revolving Line of Credit

I

n early November 2018, the Company renewed its $1.5 million revolving line of credit line with Santander Bank. The agreement will mature on June 30, 2019. The LOC is secured by the accounts receivable and other assets of the Company and has an interest rate of prime plus 100 basis points. Under the terms of the agreement, the Company is required to maintain its operating accounts with Santander Bank. The Company is also subject to certain financial covenants. As of December 29, 2018 the Company had no borrowings under this LOC and its borrowing base at the time would have permitted an additional $1.5 million to have been borrowed.