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Interest Reserve
6 Months Ended
Jun. 30, 2022
Interest Reserve [Abstract]  
INTEREST RESERVE

5. INTEREST RESERVE

 

At June 30, 2022, the Company had five loans that included a loan funded interest reserve.

 

The following table presents changes in interest reserves as of June 30, 2022 and December 31, 2021, respectively:

 

   As of June 30,
2022
   As of December 31,
2021
 
Initial reserves  $6,636,553   $
-
 
New reserves  $5,895,863   $9,223,802 
Reserves disbursed  $(6,162,392)  $(2,587,249)
Total interest reserve  $6,370,024   $6,636,553