Document:

<PAGE>

                                                                   Exhibit 10.19
                                                                   -------------

        AMENDMENT TO BUSINESS LOAN AGREEMENT AND MASTER REVOLVING NOTE

     This Amendment to Business Loan Agreement and Master Revolving Note (this
"Amendment"), effective as of December 5, 2001, is entered into by and between
Comerica Bank-California ("Bank") and Taitron Components Incorporated, a
California corporation ("Borrower").

     Bank and Borrower are parties to that certain Business Loan Agreement dated
as of May 6, 1997 (as heretofore amended, together with the Addendum attached to
and made a part thereof, the "Business Loan Agreement"). In connection with the
Business Loan Agreement, Borrower entered into that certain Master Revolving
Note dated May 6, 1997 in the maximum principal amount of $16,000,000 (the
"Revolving Note") and that certain Addendum to Master Revolving Note dated as of
May 6, 1997 (the "Note Addendum").

     Borrower has requested, and Bank has agreed, to make certain amendments to
the Business Loan Agreement, as set forth below.

     For good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, Bank and Borrower agree as follows:

1.   Section 1A of the Business Loan Agreement is amended by replacing the
phrase "SIXTEEN MILLION Dollars ($16,000,000)" appearing therein with the phrase
"FIFTEEN MILLION Dollars ($15,000,000)", and the term "Revolving Commitment
Limit" shall hereafter be deemed to mean FIFTEEN MILLION Dollars ($15,000,000).

2.   Section 1B of the Business Loan Agreement is deleted in its entirety and
the Term Loan Commitment is terminated.

3.   Section 6(a) of the Business Loan Agreement is amended and restated to read
in its entirety as follows:

     (a)    Furnish to Bank (i) within fifteen days of filing with the
     Securities and Exchange Commission, copies of Borrower's quarterly report
     on form 10-Q and Borrower's annual report on Form 10-K (provided that if at
     any time Borrower ceases to be subject to the periodic reporting
     requirements of the Exchange Act of 1934, Borrower shall provide Bank with
     unaudited quarterly financial statements and audited annual financial
     statements) and (ii) monthly financial statements within 30 days after the
     end of each month, commencing with the month ended November 30, 2001;

4.   Section 6(b) of the Business Loan Agreement is amended and restated to read
in its entirety as follows:

     (b)    In addition to the financial statements requested above, Borrower
     agrees to provide Bank with the following schedules in a form acceptable to
     Bank, in each case on a monthly basis within 15 days after the end of each
     month: Accounts Receivable Aging Reports; Accounts Payable Aging Reports;
     and Inventory Reports.

5.   The following paragraph is added to the end of Section 6 of the Business
Loan Agreement:

     In addition to the foregoing, Bank shall be entitled to conduct, at
     Borrower's expense, audits of Borrower's accounts receivable, accounts
     payable and inventory on a semi-annual basis (and at any other time when a
     Default exists).

6.   The Revolving Note is amended by changing the principal amount thereof from
$16,000,000 to $15,000,000.

7.   Section 2.a. of the Note Addendum is amended and restated to read in full
as follows:

     a.     A rate equal to the sum of Bank's LIBOR plus 185 basis points;

8.   Borrower and Bank hereby affirm that each of the Business Loan Agreement,
the Revolving Note and the Note Addendum remains in full force and effect
without modification except as expressly provided in this Amendment.

                                      41
<PAGE>

     IN WITNESS WHEREOF, Borrower and Bank have duly executed and delivered this
Amendment as of the date first written above.

TAITRON COMPONENTS INCORPORATED                      COMERICA BANK-CALIFORNIA

By: /s/ Stewart Wang                                 By: /s/ Jason Brown
Name: Stewart Wang                                   Name: Jason Brown
Title: President and CEO                             Title: Vice President

                                      42<PAGE>

                                                                   Exhibit 10.20
                                                                   -------------

                      COMMITMENT LETTER TO AMEND BUSINESS
                   LOAN AGREEMENT AND MASTER REVOLVING NOTE

March 21, 2002

Stewart Wang
President/CEO
Taitron Components Incorporated
25202 Anza Drive
Santa Clarita, CA. 91355

Dear Stewart,

Comerica Bank - California ("Comerica") has agreed to make a Fifteen Million
dollar ($15,000,000) Line of Credit available to Taitron Components Incorporated
("Taitron"). Comerica's commitment to fund the Line of Credit is subject to each
of the terms and conditions listed below. As a condition to funding the Line of
Credit, Comerica must be provided with all documents and information required by
Comerica in form and substance satisfactory to Comerica. Comerica must continue
to be satisfied with Taitron's financial condition, operations, and economic
environment which may be reviewed by Comerica at any time.

LOAN COMMITMENT

<TABLE>
<S>              <C>
Borrower:        Taitron Components Incorporated
Amount:          $15,000,000
Facility:        Revolving Line of Credit
Purpose:         Working Capital
Repayment:       Interest Only
Maturity:        May 18, 2004
Interest:        Based on rolling two quarter profitability
                 Greater than $250,000 per quarter Prime or LIBOR + 200bps
                 Less than $250,000 per quarter Prime or LIBOR + 235bps
                 LIBOR rates will be fixed for 30, 90, 180 or 365 days with minimum advances of $500,000.
Formula:         Borrowing will be limited to the sum of:
                 (1) 80% of eligible accounts receivable
                 (2) 30% of eligible inventory up to a maximum of $9,000,000
                 Effective 6/30/02: 30% of eligible inventory up to a maximum of $7,000,000.
                 Effective 12/31/02: 30% of eligible inventory up to a maximum of $5,500,000
                 (3) An additional amount of $2,940M (70% of appraised amount of building located @28040
                 W. Harrison Parkway, Valencia, CA)
                 Ineligible accounts receivable will primarily consist of the intercompany accounts, Government
                 accounts, contra accounts, foreign accounts, 25% cross aging exclusion, COD, 20%
                 concentration, and accounts over 90 days.
                 Ineligible inventory will primarily consist of slow moving inventory (non-currently noted),
                 consignment goods and packaging
Fees:            $5,000 Annual Fee
Other Fees:      Borrower will pay to Comerica all of Comerica's out of pocket expenses incurred in connection
                 with the Line of Credit including but not limited to all attorney's, title, and filing fees incurred
                 in connection with the loans.
Collateral:      UCC 1 first security interest on all corporate assets
                 First deed of trust on 28040 W. Harrison Parkway, Valencia, CA
Subordination    None
GUARANTEES:      None
</TABLE>

                                   COVENANTS

      The Loan Documents referred to above may contain the following covenants,
      among others:
1.    Financial Statement. Borrower shall provide monthly company prepared
      financial statement to Bank within thirty (30) days from the end of
      borrower's fiscal quarter. Further, Borrower shall furnish to Bank 10K and
      10Q within 15 days of filing.
2.    Borrower shall maintain fire and extended coverage insurance in a form
      satisfactory to Bank.

                                      43
<PAGE>

3.    Borrower will provide monthly accounts receivable, accounts payable agings
      and inventory reports within 15 days of month end. The reports will be
      submitted along with a borrowing base calculation in a form satisfactory
      to Bank.
4.    Semi-annual
5.    Financial Covenants. Financial covenants shall be determined in accordance
      with generally accepted accounting principals. Accounting and other terms
      requiring definition will be defined in subsequent Loan Documents.
      Proposed financial covenants to be tested quarterly include:
         a. Debt to effective tangible net worth ratio no greater than 0.75:1.0
         b. Effective tangible net worth no less than $ 24,600,000 commencing
         03/31/02, increasing each FYE by 100% of Net Income
         c. Current ratio of at least 2.0:1.0.
         d. Profitability
         For fiscal year 2002:
         Quarter 1 loss not to exceed $330,000.
         Quarter 2 profit of at least $50,000.
         Quarter 3 profit of at least $175,000.
         Quarter 4 profit of at least $175,000.
         Annual Profit of at least $150,000.
         For fiscal year 2003 and each fiscal year thereafter:
         Quarterly profit of at least $250,000.
         Annual profit of at least $1,000,000.

If the above does meet with you approval, please sign below accepting our
commitment. Acceptance will authorize us to commence documentation and allow us
to issue a 12/31/01 waiver of all covenant violations. This commitment will
expire on March 31, 2002. All documentation satisfactory to Comerica and legal
counsel must be signed and executed by April 20, 2002. This commitment replaces
the previous commitment issued. This letter is also intended for the management
of Taitron Components Incorporated only and not to be shared with other parties
without the prior written consent of the Bank.

Very truly yours,
COMERICA BANK-CALIFORNIA

/s/Rick Pankow
Senior Vice President/ Group Manager

/s/Jason D. Brown
Vice President

Above Terms Accepted:

/s/Stewart Wang
Taitron Components Incorporated

                                      44

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00036-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00036-of-00352.parquet"}]]