Note 3 - Loan to Affiliate

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Investments in and Advances to Affiliates, Schedule of Investments [Text Block]

3 . Loan to Affiliate

On

March 19, 2019,

the Company, together with certain other Lenders, entered into a loan agreement (the “Loan Agreement”) with HC Realty’s operating partnership, and HCM Agency, LLC, as collateral agent (the “Agent”), pursuant to which the Lenders provided HC Realty’s operating partnership with a

$10,500,000

senior secured term loan (the “Initial Term Loan”), of which

$2,000,000

was provided by the Company.

The Loan Agreement matures on

April 22, 2023. 

Interest on the Loan Agreement accrues at a rate of

14%

per annum.  Interest earned for the

three

months ending

March 31, 2020

and

2019

was

$71,000

and

$9,000,

respectively.