Equipment Financing

12 Months Ended

Dec. 31, 2019

Equipment Financing [Abstract]

Equipment Financing

Note 9—Equipment Financing

During 2018, the Company entered into four loan agreements to finance 25 automobiles. The loans expire in 2021 and bear interest at a weighted average interest rate of 6.5%. These loans are secured by the automobiles. Interest expense for the years ended December 31, 2019 and 2018 was $48,000 and $8,000, respectively. The outstanding balance at December 31, 2019 was $0.6 million and included in equipment financing.

Future maturities are as follows (in thousands):

Years ending December 31,
2020	$	293
2021		265
Total	$	558