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Interest Reserve
3 Months Ended
Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]  
INTEREST RESERVE

5. INTEREST RESERVE

 

At March 31, 2022, the Company had nine loans that included a loan funded interest reserve.

 

The following table presents changes in interest reserves for the three months ended March 31, 2022. There were no interest reserves as of March 31, 2021:

 

   As of
March 31,
2022
 
Initial reserves     $6,636,553 
New reserves     3,919,974 
Reserves disbursed     (3,084,470)
Total interest reserve   $7,472,057