VARIABLE INTEREST ENTITIES

9 Months Ended

Sep. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

VARIABLE INTEREST ENTITIES

NOTE 3 – VARIABLE INTEREST ENTITIES

As of September 30, 2023, the Company had four credit facilities, whereby certain loans receivable were sold to VIEs to collateralize debt incurred under each facility. Refer to Note 6, "Debt" for additional details on each facility.

The Company has determined that it is the primary beneficiary of the VIEs and is required to consolidate them. The Company includes the assets and liabilities related to the VIEs in the unaudited Condensed Consolidated Financial Statements. The assets of a VIE can be used only to settle liabilities of that VIE. Creditors (or beneficial interest holders) of the VIEs do not have recourse to the Company's general credit.

The carrying amounts of consolidated VIEs' assets and liabilities were as follows (in thousands):

	September 30, 2023		December 31, 2022
Assets
Restricted cash	$	24,613	$	20,177
Loans receivable, net	979,860		1,063,228
Prepaid expenses and other	16		5,069
Deferred tax assets	99		3,735
Total Assets	$	1,004,588	$	1,092,209
Liabilities
Accounts payable and accrued liabilities	$	3,006	$	6,704
Deferred revenue	14		31
Accrued interest	8,284		7,023
Income Taxes Payable	—		7,850
Debt	885,741		864,675
Total Liabilities	$	897,045	$	886,283