Long-Term Debt and Other Financing Arrangements (Tables)

6 Months Ended

Jun. 30, 2016

Debt Disclosure [Abstract]

Schedule of Debt

	June 30, 2016		December 31, 2015
Financing agreement with FlatIron capital.  Down payment of $16,500 was required upfront and equal installment payments of $9,610 are to be made over a 10 month period. Annualized interest is 5.25%.	$	—	$	48,050
Promissory note issued to a financial institution, bearing interest at 8%, interest payable monthly, and principal payments due quarterly. Secured by all of the Company’s rights, title, interest, claims, and demands associated with certain condominium units held in LMF SPE #2, LLC and all cash held in LMF SPE #2, LLC. Accrued interest is due monthly beginning January 29, 2015. Installment of principal is due quarterly. Note matures on December 30, 2017 and can be prepaid at any time without penalty. Principal balances for this promissory note were $5,407,757 and $6,241,555, respectively, as of June 30, 2016 and December 31, 2015.  Unamortized debt issuance costs were $145,345 and $193,792, respectively, as of June 30, 2016 and December 31, 2015.		5,262,412		6,047,763
Promissory note issued to a financial institution, bearing interest at 6%, principal payments of $55,555 per month plus interest due through maturity on February 1, 2018. This loan is collateralized by all of the accounts receivable, contract rights, and lien rights arising from or relating to collection of Association payments made by the Company relating to certain accounts as well as all deposit accounts and cash of LMF October 2010 Fund, LLC. LM Funding, LLC and its members guaranteed this loan.  Principal balances for this promissory note were $1,080,000 and $1,440,000, respectively, as of June 30, 2016 and December 31, 2015. Unamortized debt issuance costs were $3,333 and $4,167, respectively, as of June 30, 2016 and December 31, 2015.		1,076,667		1,435,833
	$	6,339,079	$	7,531,646