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Drafts Payable
6 Months Ended
Jun. 30, 2023
Drafts Payable  
Drafts Payable

7. Drafts Payable

 

Drafts payable outstanding represent unpaid drafts that have not been disbursed by our senior lender as of the reporting date, on insurance premium finance contracts received by the Company prior to the reporting date. As of June 30, 2023 and December 31, 2022, the draft payable balances are $2,861,946 and $1,827,884, respectively.