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XML - IDEA: XBRL DOCUMENT - WESTERN CAPITAL RESOURCES, INC.R15.htm
XML - IDEA: XBRL DOCUMENT - WESTERN CAPITAL RESOURCES, INC.R42.htm
EXCEL - IDEA: XBRL DOCUMENT - WESTERN CAPITAL RESOURCES, INC.Financial_Report.xls
10-Q - FORM 10-Q - WESTERN CAPITAL RESOURCES, INC.v326070_10q.htm
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EX-31.1 - EXHIBIT 31.1 - WESTERN CAPITAL RESOURCES, INC.v326070_ex31-1.htm
EX-31.2 - EXHIBIT 31.2 - WESTERN CAPITAL RESOURCES, INC.v326070_ex31-2.htm
EX-32.1 - EXHIBIT 32.1 - WESTERN CAPITAL RESOURCES, INC.v326070_ex32-1.htm
v2.4.0.6
Notes Payable
9 Months Ended
Sep. 30, 2012
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block]
6. Notes Payable –

 

On January 26, 2011, WERCS extended the maturity of the promissory note made by WERCS to WFL, pursuant to the Business Loan Agreement dated April 1, 2010 and an accompanying $2,000,000 promissory note to WFL, to April 1, 2012. In March 2011, as required by the terms of the note extension, the Company paid $1,000,000 toward the principal balance on the WERCS promissory note. On March 14, 2012, the Company repaid the remaining principal balance and all accrued and unpaid interest under the WERCS credit facility.

 

The Company drew an additional $550,000 on the existing note payable with River City Equity, Inc, a related party, during the first three quarters of 2012. Total advanced on the $2,000,000 credit facility as of September 30, 2012 was $1,550,000. The note matures September 30, 2013 and is collateralized by substantially all assets of Western Capital Resources, Inc.