KORU Medical Systems Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Cover
- Cover
Financial Statements
Notes to Financial Statements
Accounting Policies
- NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
Notes Tables
Notes Details

DEBT OBLIGATIONS (Details Narrative)

v3.21.1

DEBT OBLIGATIONS (Details Narrative) - USD ($)	Apr. 27, 2020	Apr. 20, 2020	Apr. 14, 2020	Feb. 08, 2018	Dec. 31, 2020	Jul. 29, 2020	Apr. 23, 2020
PPP Loan Agreement [Member]
Loans, principal amount		$ 1,476,508
Loans, funded date		Apr. 27, 2020
Key Equipment Finance [Member] \| Progress Payment Loan and Security Agreement And Master Security Agreement [Member]
Interest rate terms	Fixed rate of 4.07% per annum
Loans, principal amount	$ 2,500,000
Principal and interest payable terms	84 equal consecutive monthly installments.
Promissory Note [Member] \| KeyBank National Association [Member]
Face amount			$ 3,500,000				$ 2,000,000
Interest rate terms			LIBOR plus 2.25%
Promissory Note [Member] \| Non-Disclosable Revolving Line of Credit [Member] \| KeyBank National Association [Member]
Face amount			$ 3,500,000
Interest rate terms			Prime Rate announced by the Bank minus 0.75%
Debt instrument, principal and unpaid interest due			Jun. 01, 2021
Debt instrument, prepaid terms			Any time prior to maturity with no prepayment penalties.
KeyBank National Association [Member] \| Promissory Note [Member] \| Revolving Credit Facility [Member]
Face amount				$ 1,500,000	$ 3,500,000	$ 3,500,000
Interest rate terms				LIBOR plus 2.25%
Description collateral				collateralized with a certificate of deposit
Collateral amount				$ 1,500,000

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Description of dent instrument prepaid terms.

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Date which loans funded is set to expire, in CCYY-MM-DD format.

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The description of principal and interest payment terms.

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Discussion of whether the debt instrument is secured or unsecured, and, if secured, a description of the collateral and guarantees required or provided.

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Amount of assets pledged to secure a debt instrument.

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Face (par) amount of debt instrument at time of issuance.

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Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format.

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-Publisher FASB
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- Definition

Cash received from principal payments made on loans related to operating activities.

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