|12 Months Ended|
Dec. 31, 2018
(3) LOAN RECEIVABLE
On March 26, 2018, ATA announced entering into a framework agreement to invest in Beijing Biztour International Travel Service Co., Ltd. (“Beijing Biztour”). The loan receivable at December 31, 2018 was a one-year loan of US$2 million at an annual interest rate of 8.0% that ATA provided to Beijing Biztour. The loan became overdue on April 6, 2019 based on the agreement.
The entire disclosure for financing receivables. Examples of financing receivables include, but are not limited to, loans, trade accounts receivables, notes receivable, credit cards, and receivables relating to a lessor's right(s) to payment(s) from a lease other than an operating lease that is recognized as assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef