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Commercial Loans Receivable
 9 Months Ended
Dec. 30, 2023
Receivables [Abstract]  
Commercial Loans Receivable Commercial Loans Receivable
The commercial loans receivable balance consists of direct financing arrangements for the home product needs of our independent distributors, community owners and developers.
Commercial loans receivable, net consisted of the following (in thousands):
December 30,
2023		April 1,
2023
Loans receivable$94,178 $103,726 
Allowance for loan losses (1,423)(1,586)
Deferred financing fees, net(183)(163)
92,572 101,977 
Less current portion of commercial loans receivable (including from affiliates), net(50,952)(44,054)
$41,620 $57,923 
The commercial loans receivable balance had the following characteristics:
December 30,
2023		April 1,
2023
Weighted average contractual interest rate6.5 %7.6 %
Weighted average months outstanding119
Nonperforming status includes loans accounted for on a non-accrual basis and accruing loans with principal payments 90 days or more past due. As of December 30, 2023 and April 1, 2023, there were no commercial loans considered nonperforming. The following table disaggregates the outstanding principal balance of our commercial loans receivable by fiscal year of origination (in thousands):
December 30, 2023
20242023202220212020PriorTotal
Performing
$48,598 $34,344 $6,522 $2,462 $1,478 $774 $94,178 
April 1, 2023
20232022202120202019PriorTotal
Performing
$80,193 $16,028 $4,071 $2,203 $1,231 $— $103,726 
As of December 30, 2023 and April 1, 2023, there were no commercial loans 90 days or more past due that were still accruing interest, and we were not aware of any potential problem loans that would have a material effect on the commercial loans receivable balance.
As of December 30, 2023, we had concentrations of our outstanding principal balance of the commercial loans receivable balance in New York of 15% and California of 16%. As of April 1, 2023, 18% of our outstanding principal balance of the commercial loans receivable balance was in New York. No other state had concentrations in excess of 10% of the outstanding principal balance of the commercial loans receivable as of December 30, 2023 or April 1, 2023.
As of December 30, 2023 and April 1, 2023, one independent third-party and its affiliates comprised 14% and 12%, respectively, of the net commercial loans receivable principal balance outstanding, all of which was secured