Guaranteed loan financing

6 Months Ended

Jun. 30, 2024

Guaranteed loan financing.

Guaranteed loan financing

Note 12. Guaranteed Loan Financing

Participations or other partial loan sales which do not meet the definition of a participating interest remain as an investment in the consolidated balance sheets and the portion sold is recorded as guaranteed loan financing in the liabilities section of the consolidated balance sheets. For these partial loan sales, the interest earned on the entire loan balance is recorded as interest income and the interest earned by the buyer in the partial loan sale is recorded within interest expense in the accompanying consolidated statements of operations. Guaranteed loan financings are secured by loans of $782.7 million and $845.0 million as of June 30, 2024 and December 31, 2023, respectively.

The table below presents guaranteed loan financing and the related interest rates and maturity dates.

	Weighted Average		Range of		Range of
(in thousands)	Interest Rate		Interest Rates		Maturities (Years)	Ending Balance
June 30, 2024	9.17	%	1.45-10.50	%	2024-2048	$	782,345
December 31, 2023	9.17	%	1.45-10.50	%	2023-2048	$	844,540

The table below presents the contractual maturities of guaranteed loan financing.

(in thousands)	June 30, 2024
2024	$	182
2025		414
2026		1,914
2027		7,778
2028		8,614
Thereafter		763,443
Total	$	782,345