Notes Receivable, Net

3 Months Ended

Mar. 31, 2017

Note Receivable, Net [Abstract]

Notes Receivable, Net

3.  Notes receivable, net:

The Company has various notes receivables from borrowers who have financed the purchase of equipment through the Company. The terms of the notes receivable are36 months and bear interest at rates ranging from11.45%to 11.80%per annum. The notes are secured by the equipment financed. The notes mature from 2019 through2020. There were neither impaired notes nor notes placed in non-accrual status as of March 31, 2017 and December 31, 2016.

As of March 31, 2017, the minimum future payments receivable are as follows (in thousands):

Nine months ending December 31, 2017	$	439
Year ending December 31, 2018		584
2019		508
2020		50
		1,581
Less: portion representing unearned interest income		(219)
Less: Warrants - notes receivable discount		(49)
		1,313
Unamortized initial direct costs		5
Notes receivable, net	$	1,318

IDC (Initial Direct Cost) amortization expense related to notes receivable and the Company’s operating and direct financing leases for the three months ended March 31, 2017 are as follows (in thousands):  

	For the three months ended
	March 31,
	2017		2016
IDC amortization - notes receivable	$	1	$	-
IDC amortization - lease assets		12		1
Total	$	13	$	1