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Commercial Loans Receivables and Allowance for Loan Loss (Tables)
 9 Months Ended
Dec. 28, 2019
Receivables [Abstract]  
Commercial Loans Receivables
Commercial loans receivable, net consisted of the following, by class of financing notes receivable (in thousands):
 
December 28,
2019
 
March 30,
2019
Direct loans receivable
$
44,619

 
$
42,899

Participation loans receivable
148

 
495

Allowance for loan losses
(162
)
 
(180
)
Deferred financing fees, net
(248
)
 
(208
)
 
$
44,357

 
$
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
 
Nine Months Ended
 
December 28,
2019
 
December 29,
2018
 
December 28,
2019
 
December 29,
2018
Balance at beginning of period
$
163

 
$
135

 
$
180

 
$
42

Change in estimated loan losses, net
(1
)
 
25

 
(18
)
 
118

Loans charged off, net of recoveries
—

 
—

 
—

 
—

Balance at end of period
$
162

 
$
160

 
$
162

 
$
160
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
 
December 28,
2019
 
March 30,
2019
 
December 28,
2019
 
March 30,
2019
Commercial loans receivable:
 
 
 
 
 
 
 
Collectively evaluated for impairment
$
16,186

 
$
18,018

 
$
—

 
$
—

Individually evaluated for impairment
28,433

 
24,881

 
148

 
495

 
$
44,619

 
$
42,899

 
$
148

 
$
495

Allowance for loan losses:
 
 
 
 
 
 
 
Collectively evaluated for impairment
$
(162
)
 
$
(180
)
 
$
—

 
$
—

Individually evaluated for impairment
—

 
—

 
—

 
—

 
$
(162
)
 
$
(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
 
December 28,
2019
 
March 30,
2019
 
December 28,
2019
 
March 30,
2019
Risk profile based on payment activity:
 
 
 
 
 
 
 
Performing
$
44,619

 
$
42,899

 
$
148

 
$
495

Watch list
—

 
—

 
—

 
—

Nonperforming
—

 
—

 
—

 
—

 
$
44,619

 
$
42,899

 
$
148

 
$
495
Geographic Concentration of Commercial Loans Receivables in Key States
The Company had concentrations of commercial loans receivables related to factory-built homes in excess of 10% of the commercial loans receivables principal balance located in the following states:
 
December 28,
2019
 
March 30,
2019
California
20.4
%
 
21.1
%
Arizona
17.5
%
 
16.3
%