LINE OF CREDIT AND LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Components of Long-term Debt

Debt consisted of the following as of December 31:

($ in thousands)	2022		2021
Notes payable	$	50,154	$	52,784
Less: line-of-credit and current maturities of long-term debt	(1,779)		(4,475)
Less: deferred loan costs	(214)		(154)
Long-term debt, less current portion	$	48,161	$	48,155

Schedule of Outstanding Indebtedness and Respective Principal Maturities

The following table summarizes debt maturities, outstanding indebtedness, and respective principal maturities as of December 31,

($ in thousands)	Stated Rate	Effective Rate	Maturity	2023		2024		2025		2026		2027		Thereafter		Total
New Term Loan1	S+1.55%	4.62%	6/28/2032	$	1,513	$	1,589	$	1,669	$	1,753	$	1,840	$	40,098	$	48,462
$40 million New RLOC	See below2	See below2	6/30/2027	—		—		—		—		—		—		—
Promissory note	4.25%	4.25%	9/1/2028	265		277		289		302		315		244		1,692
Total long-term debt				$	1,778	$	1,866	$	1,958	$	2,055	$	2,155	$	40,342	$	50,154
1The interest on the New Term Loan is fixed by an interest rate swap agreement. Please see Footnote 10 for further discussion.
2At the Company’s option, the interest rate on this line of credit can float at 1.37% over a selected SOFR rate or can be fixed at 1.37% above SOFR for a fixed rate term.