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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ 21,899,554 $ 6,754,947
Adjustments to reconcile Net Income (Loss) to net cash provided by operating activities:    
Provision for loan losses 14,133,331 30,702,268
Depreciation and amortization 2,340,844 2,449,636
Provision for (prepaid) deferred income taxes 27,192 (209,917)
Other (492,867) (112,613)
Decrease (increase) in miscellaneous other assets (357,511) 505,882
Decrease in other liablities 2,477,613 (2,038,685)
Net Cash Provided by (Used in) Operating Activities 40,028,156 38,051,518
CASH FLOWS FROM INVESTING ACTIVITIES:    
Loans originated or purchased (267,632,255) (191,954,686)
Loan liquidations 232,451,924 172,600,163
Purchases of marketable debt securities (30,489,054) (7,881,790)
Redemptions of marketable debt securities 7,715,000 3,355,000
Fixed asset additions, net (1,716,411) (1,330,021)
Fixed asset proceeds from sales 28,642 42,125
Net Cash Provided by (Used in) Investing Activities (59,642,154) (25,169,209)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase (decrease) in senior demand notes outstanding 8,435,649 7,174,786
Advances on credit line 80,103,086 84,231,820
Payments on credit line (136,803,086) (98,381,820)
Commercial paper issued 80,519,668 33,819,226
Commercial paper redeemed (19,371,295) (35,752,536)
Subordinated debt securities issued 3,857,543 2,689,883
Subordinated debt securities redeemed (3,919,714) (2,934,020)
Dividends / Distributions (10,186,306) (100,000)
Net Cash Provided by (Used in) Financing Activities 2,635,545 (9,252,661)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (16,978,453) 3,629,648
CASH AND CASH EQUIVALENTS, beginning 67,678,422 58,458,580
CASH AND CASH EQUIVALENTS, ending 50,699,969 62,088,228
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid during the period for Interest 11,166,819 10,682,860
Income Taxes Paid 1,677,638 0
Adoption of CECL Accounting Standard ASU 2016-13 $ 0 $ (2,158,161)