WAREHOUSE LINE OF CREDIT	3 Months Ended
Mar. 31, 2025
Warehouse Line Of Credit
WAREHOUSE LINE OF CREDIT	11. WAREHOUSE LINE OF CREDIT On September 21, 2021, Beeline Financial entered into an agreement with a lender for a $10.0 million line of credit. The line automatically renews for successive one-year terms, unless terminated by Beeline Financial or the lender upon 60 days’ notice. The line was renewed on September 30, 2023 with a reduction in available funding from $10.0 million to $5.0 million. The line has subsequently been renewed with the latest renewal through September 21, 2025 at the current $5.0 million limit subject to lender discretion. The interest rate is the greater of interest on the underlying loan or 4.25% - 5.50%, depending on how many loans Beeline Financial closes per month. Beeline Financial is required to provide the lender with annual audited financial statements, quarterly unaudited financial statements, and monthly interim unaudited financial statements if requested. Beeline Financial is also subject to loan repurchase provisions as defined in the agreement and certain non-financial covenants. Beeline Financial grants to the lender a security interest in and to all of Beeline Financial’s right, title, and interest in and to each mortgage loan in which the lender has acquired a warehouse interest. As of March 31, 2025, the warehouse line of credit and accrued interest outstanding balance was $4.5 million. Interest expense on the warehouse line of credit was $0.1 million for the three months ended March 31, 2025.

WAREHOUSE LINE OF CREDIT

3 Months Ended

Mar. 31, 2025

11. WAREHOUSE LINE OF CREDIT

On September 21, 2021, Beeline Financial entered into an agreement with a lender for a $10.0 million line of credit. The line automatically renews for successive one-year terms, unless terminated by Beeline Financial or the lender upon 60 days’ notice. The line was renewed on September 30, 2023 with a reduction in available funding from $10.0 million to $5.0 million. The line has subsequently been renewed with the latest renewal through September 21, 2025 at the current $5.0 million limit subject to lender discretion. The interest rate is the greater of interest on the underlying loan or 4.25% - 5.50%, depending on how many loans Beeline Financial closes per month. Beeline Financial is required to provide the lender with annual audited financial statements, quarterly unaudited financial statements, and monthly interim unaudited financial statements if requested. Beeline Financial is also subject to loan repurchase provisions as defined in the agreement and certain non-financial covenants. Beeline Financial grants to the lender a security interest in and to all of Beeline Financial’s right, title, and interest in and to each mortgage loan in which the lender has acquired a warehouse interest. As of March 31, 2025, the warehouse line of credit and accrued interest outstanding balance was $4.5 million. Interest expense on the warehouse line of credit was $0.1 million for the three months ended March 31, 2025.