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Advances Receivable, net (Tables)
 12 Months Ended
Jun. 30, 2020
Advances Receivable, net  
Schedule of advances receivable

Total advances receivable, net, as of June 30, 2020, consisted of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision

 

 

 

 

 

Advance

 

Deferred

 

for Credit

 

Carrying

 

    

Principal

    

Fees

    

Losses

    

Value

 

 

(Amounts in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Merchant cash advances

 

$

1,919

 

$

 —

 

$

(124)

 

$

1,795

Aviation advances

 

 

10,000

 

 

(359)

 

 

 —

 

 

9,641

Advances receivable, net

 

$

11,919

 

$

(359)

 

$

(124)

 

$

11,436

 

Total advances receivable, net, as of June 30, 2019, consisted of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision

 

 

 

 

 

Advance 

 

Deferred

 

for Credit

 

Carrying

 

    

Principal

    

Fees

    

Losses

    

Value

 

 

(Amounts in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Merchant cash advances

 

$

7,434

 

$

 —

 

$

(736)

 

$

6,698

Aviation advances

 

 

2,750

 

 

(59)

 

 

 —

 

 

2,691

Advances receivable, net

 

$

10,184

 

$

(59)

 

$

(736)

 

$

9,389

 

Allowance for Credit Losses on Financing Receivables

Changes in the allowance for MCA credit losses are as follows (amounts in thousands):

 

 

 

 

 

Allowance for credit losses, July 1, 2018

    

$

 —

Provision for credit losses

 

 

1,605

Receivables charged off

 

 

(869)

Allowance for credit losses, July 1, 2019

 

$

736

Provision for credit losses

 

 

849

Receivables charged off

 

 

(1,624)

Recoveries of receivables previously charged off

 

 

162

Effects of exchange rate differences

 

 

 1

Allowance for credit losses, June 30, 2020

 

$

124