FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurement Inputs

The following summarizes the ranges of discount rates and prepayment rates used to arrive at the estimated fair values of the Company’s loans receivable:

	Year Ended December 31,
	2024		2023
	Discount Rate	Prepayment Rate	Discount Rate	Prepayment Rate
SBA 7(a) loans receivable, subject to credit risk	7.30% - 10.75%	4.07% - 17.50%	7.83% - 11.00%	4.88% - 17.50%
SBA 7(a) loans receivable, subject to loan-backed notes	9.00% - 10.75%	4.81% - 17.50%	10.00% - 11.00%	4.88% - 17.50%
SBA 7(a) loans receivable, subject to secured borrowings	10.25% - 10.25%	5.00% - 17.50%	10.00% - 10.50%	5.00% - 17.50%

Schedule of Fair Values of Financial Instrument Not Recorded at Fair Value on a Recurring Basis

The estimated fair values of those financial instruments which are not recorded at fair value on a recurring basis on the Company’s consolidated balance sheets are as follows:

	December 31, 2024				December 31, 2023
	Carrying		Estimated		Carrying		Estimated
	Amount		Fair Value		Amount		Fair Value		Level
	(in thousands)
Assets:
SBA 7(a) loans receivable, subject to loan-backed notes	$	34,452	$	37,657	$	43,263	$	46,701	3
SBA 7(a) loans receivable, subject to credit risk	$	18,850	$	18,994	$	10,539	$	10,482	3
SBA 7(a) loans receivable, subject to secured borrowings	$	1,383	$	1,383	$	3,105	$	3,105	3
SBA 7(a) loans receivable, held for sale	$	1,525	$	1,600	$	98	$	82	3
Liabilities:
Fixed rate mortgages payable (1)	$	269,100	$	233,364	$	163,700	$	158,529	3
Junior subordinated notes (1)	$	27,070	$	25,415	$	27,070	$	24,667	3

(1)The carrying amounts for the mortgages payable and junior subordinated notes represents the principal outstanding amounts, excluding deferred debt issuance costs and discounts.