LONG TERM DEBT (Details Textual) (USD $)
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12 Months Ended | 1 Months Ended | 12 Months Ended |
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Dec. 31, 2013
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Nov. 30, 2013
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Dec. 31, 2014
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Debt Instrument [Line Items] | |||
Debt Instrument, Periodic Payment | $ 3,000,000us-gaap_DebtInstrumentPeriodicPayment | ||
Debt Instrument, Description of Variable Rate Basis | Libor+3.5% | ||
Debt Instrument, Payment Terms | paid monthly in equal payment, for a period of 36 months | ||
Debt Instrument, Basis Spread on Variable Rate | 3.50%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 | ||
US Bank [Member] | |||
Debt Instrument [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 3,000,000us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity / us-gaap_CreditFacilityAxis = mgic_UsBankMember |
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Proceeds from Lines of Credit | $ 2,800,000us-gaap_ProceedsFromLinesOfCredit / us-gaap_CreditFacilityAxis = mgic_UsBankMember |
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Line of Credit Facility, Interest Rate Description | interest equal to the Prime Rate in effect from time to time, plus 3% per annum; provided that the interest rate in effect on any day shall not be less than 6.0% per annum |
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- Definition
Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
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- Definition
The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. No definition available.
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- Details
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- Definition
Description of the payment terms of the debt instrument (for example, whether periodic payments include principal and frequency of payments) and discussion about any contingencies associated with the payment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of the required periodic payments including both interest and principal payments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Description of the interest rate for the amounts borrowed under the credit facility, including the terms and the method for determining the interest rate (for example, fixed or variable, LIBOR plus a percentage, increasing rate, timing of interest rate resets, remarketing provisions). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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