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Lines of Credit
12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Lines of Credit

NOTE 6 – LINES OF CREDIT

 

The Company previously had two (2) lines of credit with a bank which provided aggregate maximum borrowing availability of $1,050,000 as of 2020, and 2019, respectively. The lines of credit were payable on demand and bore interest at a variable rate with rate ranges from 7.5% to 8.0%. Outstanding advances under these lines of credit arrangements amounted to $0 as of December 31, 2020, and $12,237 as of December 31, 2019. The lines of credit matured in 2020 and were paid in full on January 5, 2020, and February 14, 2020.