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Commercial Loans Receivables and Allowance for Loan Loss (Tables)
 3 Months Ended
Jun. 29, 2019
Receivables [Abstract]  
Commercial Loans Receivables
Commercial loans receivable, net consisted of the following, by class of financing notes receivable (in thousands):
 
June 29,
2019
 
March 30,
2019
Direct loans receivable
$
46,663

 
$
42,899

Participation loans receivable
413

 
495

Allowance for loan losses
(191
)
 
(180
)
Deferred financing fees, net
(227
)
 
(208
)
 
$
46,658

 
$
43,006
Changes in the Allowance for Loan Losses on Commercial Loans Receivables
The following table represents changes in the estimated allowance for loan losses, including related additions and deductions to the allowance for loan losses applicable to the direct programs (in thousands):
 
Three Months Ended
 
June 29,
2019
 
June 30,
2018
Balance at beginning of period
$
180

 
$
42

Provision for commercial loan credit losses
11

 
71

Loans charged off, net of recoveries
—

 
—

Balance at end of period
$
191

 
$
113
Allowance for Loan Losses and Commercial Loans Receivables By Class Individually and Collectively Evaluated for Impairment
The following table disaggregates commercial loans receivable and the estimated allowance for loan losses for each class of financing receivable by evaluation methodology (in thousands):
 
Direct Commercial Loans
 
Participation Commercial Loans
 
June 29,
2019
 
March 30,
2019
 
June 29,
2019
 
March 30,
2019
Commercial loans receivable:
 
 
 
 
 
 
 
Collectively evaluated for impairment
$
19,061

 
$
18,018

 
$
—

 
$
—

Individually evaluated for impairment
27,602

 
24,881

 
413

 
495

 
$
46,663

 
$
42,899

 
$
413

 
$
495

Allowance for loan losses:
 
 
 
 
 
 
 
Collectively evaluated for impairment
$
(191
)
 
$
(180
)
 
$
—

 
$
—

Individually evaluated for impairment
—

 
—

 
—

 
—

 
$
(191
)
 
$
(180
)
 
$
—

 
$
—
Commercial Loans Receivables by Class and Internal Credit Quality Indicator
The following table disaggregates the Company's commercial loans receivable by class and credit quality indicator (in thousands):
 
Direct Commercial Loans
 
Participation Commercial Loans
 
June 29,
2019
 
March 30,
2019
 
June 29,
2019
 
March 30,
2019
Risk profile based on payment activity:
 
 
 
 
 
 
 
Performing
$
46,663

 
$
42,899

 
$
413

 
$
495

Watch list
—

 
—

 
—

 
—

Nonperforming
—

 
—

 
—

 
—

 
$
46,663

 
$
42,899

 
$
413

 
$
495
Geographic Concentration of Commercial Loans Receivables in Key States
The Company has concentrations of commercial loans receivable related to factory-built homes in excess of 10% located in the following states, measured as a percentage of commercial loans receivables principal balance outstanding:
 
June 29,
2019
 
March 30,
2019
California
18.8
%
 
21.1
%
Arizona
18.2
%
 
16.3
%