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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 2,035 $ 1,918
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 39 30
Amortization of deferred loan fees (194) (196)
Amortization of debt issuance costs 72 65
Provision (credit) for loan losses 195 (421)
Accretion of loan discount (22) (79)
Gain on sale of loans (61)  
Loss (gain) on sale of fixed assets 8 (1)
Gain on extinguishment of debt (2,400)  
Changes in:    
Accrued interest receivable (201) (6)
Other assets 32 (566)
Accrued interest payable 34 9
Other liabilities (188) 1,797
Net cash provided (used) by operating activities (651) 2,550
CASH FLOWS FROM INVESTING ACTIVITIES:    
Loan purchases   (2,255)
Loan originations (16,152) (4,634)
Loan sales 16,533  
Loan principal collections 8,626 15,222
Purchase of certificates of deposit (1,757)  
Purchase of property and equipment (87) (163)
Sale of property and equipment 24 4
Net cash provided by investing activities 7,187 8,174
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments on term debt (16,483) (3,785)
Net change in investor notes payable 2,216 5,967
Debt issuance costs (42) (49)
Dividends paid on preferred units (296) (264)
Net cash provided (used) by financing activities (14,605) 1,869
Net increase (decrease) in cash and restricted cash (8,069) 12,593
Cash, cash equivalents, and restricted cash at beginning of period 26,045 9,928
Cash, cash equivalents, and restricted cash at end of period 17,976 22,521
Supplemental disclosures of cash flow information    
Interest paid 3,395 3,820
Income taxes paid 20 20
Supplemental disclosures of non-cash transactions    
Servicing assets recorded 85  
Leased assets obtained in exchange of new operating lease liabilities 53 680
Lease liabilities recorded 53 680
Dividends declared to preferred unit holders $ 214 $ 237