|12 Months Ended|
Dec. 31, 2020
|Notes Receivable||NOTES RECEIVABLEThe Company has notes receivable from ISOs and another entity (see Note 13, Related Party Matters) totaling approximately $7.7 million and $5.7 million as of December 31, 2020 and 2019, respectively. These notes receivable are reported as current
and non-current on the Company's consolidated balance sheet. The notes bear a weighted-average interest rate of 13.1% and 12.4% as of December 31, 2020 and 2019, respectively.
Under the terms of the agreements with ISOs, the Company preserves the right to hold back residual payments due to the ISOs and to apply such residuals against future payments due to the Company. The note receivable due from another entity is secured by business assets and a personal guarantee.
The allowance for doubtful note receivable is shown net of the current outstanding principal balances for notes receivable on the consolidated balance sheet and the $0.5 million provision for doubtful note receivable is included within selling, general and administrative expense on the consolidated statement of operations and within other noncash items, net on the consolidated statement of cash flows.
Principal contractual maturities on the notes receivable, including payment-in-kind interest, at December 31, 2020 were as follows:
The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.
Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef