|
NOTE 7 - NOTE PAYABLE - LINE OF CREDIT
|
3 Months Ended |
|---|---|
|
Mar. 31, 2012
|
|
| Notes to Financial Statements | |
| NOTE 7 – NOTE PAYABLE – LINE OF CREDIT |
NOTE 7 – NOTE PAYABLE – LINE OF CREDIT
The Company has a line of credit with Wells Fargo Bank. The line of credit provides for borrowings up to $40,000. The balance as of March 31, 2012 and December 31, 2011 was $36,619 and $35,146, respectively. The interest rate is the Prime Rate plus 3%. The President of the Company is a personal guarantor on the line of credit.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This element may be used to capture the complete disclosure pertaining to short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|