Loans Payable to Financial Institutions

6 Months Ended

Jun. 30, 2024

Loans Payable to Financial Institutions [Abstract]

LOANS PAYABLE TO FINANCIAL INSTITUTIONS

4. LOANS PAYABLE TO FINANCIAL INSTITUTIONS

Loans payable to financial institutions consisted of the following:

As of	June 30, 2024			December 31, 2023
Loan agreements with principal amount of $960,777 and repayment rate of 14.75% to 20.0%. The loans payable mature on various dates in 2025		1,055,824			1,005,442
Loan agreement with principal amount of $140,954 with an interest rate of 30.0% per annum with a maturity date on May 31, 2024		-			121,058
Total loan payable		1,055,824			1,126,499
Less: current portion		(720,677	)		(791,352	)
Total loan payable, net of current	$	335,147		$	335,147