v3.23.1
SBA LOAN
12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
SBA LOAN

NOTE 8 – SBA LOAN

 

In June 2020, the Company received a $150,000 loan (less $100 expense) from the Small Business Administration (“SBA”). The loan is for thirty years, interest is 3.75% per annum, and payments of $731 are monthly beginning twenty-four months after closing.

 

   Remaining Loan Payments 
2023  $14,155 
2024   8,940 
2025   8,940 
2026   8,940 
2027   8,940 
thereafter   200,405 
Total remaining loan payments   250,320 
Less: imputed interest   (100,320)
Total loan liability   150,000 
Less: current portion   (5,047)
Long term loan liability  $144,953 
      
Weighted average remaining lease term    27.4 years