|3 Months Ended|
Mar. 31, 2017
|Loans Receivable [Abstract]|
4. LOANS RECEIVABLE
Loans receivable as of March 31, 2017 and December 31, 2016 consisted of the following:
These loans bear interest at rates between 2% and 3% per annum. As of March 31, 2017 and December 31, 2016, the value of the collateral was below the value of the outstanding loans to employees. As a result, the Company recorded a reserve on the balance of loans to employees of $891 as of March 31, 2017 and December 31, 2016. These employees are considered related parties (refer to Note 13, Related Parties, for further detail).
During the three months ended March 31, 2017, the Company loaned an additional $40 to a third party.
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/2003/role/presentationRef