Equipment loan payables

12 Months Ended

Dec. 31, 2020

Equipment loan payables

Equipment loan payables

8. Equipment loan payables

The Company entered into various equipment financing agreements (the Agreements) to purchase laboratory equipment. The Agreements provide for 36 to 38 monthly payments ranging from $1,000 to $8,000. Interest rates for the Agreements range from 9.03% to 12.08%, and interest expense related to the equipment financing agreements was $21,000 and $46,000 for the years ended December 31, 2020 and 2019, respectively.

Future payments for the Company’s Agreements are as follows (in thousands):

Year ending December 31,	Amount
2021	$	117
Total		117
Less amounts representing interest		(4)
Total equipment loan payable	$	113