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Related Parties
12 Months Ended
Dec. 31, 2019
Related Party Transactions [Abstract]  
Related Parties
13. RELATED PARTIES
The Company obtains its property and casualty insurance through Assured Partners NL, LLC ("Assured"), which one of our directors, Gerald Budde, is Eastern Region Chief Financial Officer of AssuredPartners, Inc. The placement of insurance was completed by an agent outside of the Eastern Region and Mr. Budde did not participate in any decisions about insurance, nor was he paid any portion of the brokerage fee. Assured earned brokerage fees of approximately $86,000 and $79,000 for the years ended December 31, 2019 and 2018, respectively.
On June 7, 2018, the Company received a $550,000 unsecured short-term loan from Stephen S. Burns, H. Benjamin Samuels, Gerald Budde and Ray Chess, each an executive officer and/or director of the Company (collectively, the “Related Parties”) at the time of the loan. The loan was paid off in August 2019. Interest accrued on the Related Parties notes at the rate of 12.0% per annum.