Quarterly report pursuant to Section 13 or 15(d)

LINE OF CREDIT, SHORT-TERM AND LONG-TERM BORROWINGS (Tables)

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LINE OF CREDIT, SHORT-TERM AND LONG-TERM BORROWINGS (Tables)
9 Months Ended
Sep. 30, 2012
Long-Term Debt

Long-term debt is as follows (in thousands):

 

     September 30,
2012
     December 31,
2011
 

Note payable to bank, due in monthly installments of $531.4 (includes principal and interest), fixed rate interest at 3.54%, secured by property, balloon payment of $12,635 due December 2015

   $ 30,231       $ 34,259   

Note payable to bank, due in monthly installments of $483.9 (includes principal and interest), fixed rate interest at 3.19%, secured by property, balloon payment of $11,670 due June 2016

     30,315         34,005   

Loan from HF Logistics I, LLC

     18,146         18,297   

Note payable to TCF Equipment Finance, Inc., due in monthly installments of $30.5, (includes principal and interest) fixed rate interest at 5.24%, Maturity Date of July 2019

     1,838         0   

Capital lease obligations

     14         29   
  

 

 

    

 

 

 

Subtotal

     80,544         86,590   

Less current installments

     10,311         10,059   
  

 

 

    

 

 

 

Total long-term debt

   $ 70,233       $ 76,531