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Line of Credit	6 Months Ended
Jun. 30, 2021
Line of Credit
Note 9. Line of Credit	(9) Line of Credit On November 20, 2020, AmpliTech entered into a business line of credit for $750,000 maturing on November 1, 2021. The line is evaluated monthly on a borrowing base formula advancing 75% of accounts receivables aged less than 90 days and 50% of inventory raw materials costs. The interest rate shall be based upon the Wall Street Journal Prime Rate, plus 1%. The Company has the option to prepay all or any portion of the amount owed prior to its due date without penalty. In connection with the loan, the Company granted the lender a security interest in all of its respective assets. In addition, the President and CEO, has agreed to guarantee the loan. As of June 30, 2021, and December 31, 2020, the outstanding balance on the line of credit was $0 and $200,000, respectively.

Line of Credit

6 Months Ended

Jun. 30, 2021

(9) Line of Credit

On November 20, 2020, AmpliTech entered into a business line of credit for $750,000 maturing on November 1, 2021. The line is evaluated monthly on a borrowing base formula advancing 75% of accounts receivables aged less than 90 days and 50% of inventory raw materials costs. The interest rate shall be based upon the Wall Street Journal Prime Rate, plus 1%. The Company has the option to prepay all or any portion of the amount owed prior to its due date without penalty.

In connection with the loan, the Company granted the lender a security interest in all of its respective assets. In addition, the President and CEO, has agreed to guarantee the loan.

As of June 30, 2021, and December 31, 2020, the outstanding balance on the line of credit was $0 and $200,000, respectively.