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LOANS ISSUED | 6 Months Ended
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Sep. 30, 2021
LOANS ISSUED |
NOTE 7 - LOANS ISSUED | NOTE 7 – LOANS ISSUED Loans issued as of September 30, 2021, consisted of the following:
|  | Amount Outstanding, net of allowance |  |  | Due Dates |  | Average Interest Rate |  |  | Fair Value of Collateral |  |  | Loan Currency |
Uncollateralized bank customer loans |  |  | 13,428 |  |  | October 2021 - September 2025 |  |  | 12.10 | % |  |  | - |  |  | KZT |
Mortgage loans |  |  | 11,190 |  |  | October 2021 – September 2036 |  |  | 14.83 | % |  |  | 11,089 |  |  | KZT |
Subordinated loan |  |  | 5,099 |  |  | December 2022 - April 2024 |  |  | 4.89 | % |  |  | - |  |  | USD |
Bank customer loans |  |  | 1,520 |  |  | November 2021-September 2045 |  |  | 12.00 | % |  |  | 1,000 |  |  | RUB |
Subordinated loan |  |  | 1,392 |  |  | September 2029 |  |  | 7.00 | % |  |  | - |  |  | UAH |
Uncollateralized non-bank loan |  |  | 18 |  |  | December 2021 |  |  | 2.00 | % |  |  | - |  |  | EUR |
|  | $ | 32,647 |  |  |  |  |  |  |  |  |  |  |  |  |  |
During the six months ended September 30, 2021, the Company entered into agreements with a related party microfinance organization to purchase uncollateralized consumer retail loans. The agreements provide the Company the ability to sell back to the microfinance organization up to $3,000 of the total loans purchased if such loans become delinquent for more than 20 days. The Company has determined that it has assumed substantially all of the risks and rewards from the transferor of the loans, with the exception of the amount it has the right to sell back to the transferor, accordingly the Company has received control of the loans and has recognized the loans on its Condensed Consolidated Balance Sheets. During the six months ended September 30, 2021, the Company purchased loans in the aggregate amount of $19,474 and sold back loans totaling $2,860 to the microfinance organization. As of September 30, 2021, the Company held outstanding loans purchased from the microfinance organization totaling $14,615 net of an allowance of $1,187. Loans issued as of March 31, 2021, consisted of the following:
|  | Amount Outstanding |  |  | Due Dates |  | Average Interest Rate |  |  | Fair Value of Collateral |  |  | Loan Currency |
Subordinated loan |  | $ | 5,033 |  |  | December 2022-April 2024 |  |  | 3.69 | % |  |  | - |  |  | USD |
Uncollateralized non-bank loan |  |  | 2,382 |  |  | January 2022 – February 2022 |  |  | 3.00 | % |  |  | - |  |  | USD |
Uncollateralized non-bank loan |  |  | 1,384 |  |  | May 2021 |  |  | 13.00 | % |  |  | - |  |  | RUB |
Subordinated loan |  |  | 1,331 |  |  | September 2029 |  |  | 7.00 | % |  |  | - |  |  | UAH |
Bank customer loans |  |  | 880 |  |  | March 2024 |  |  | 15.41 | % |  |  | 729 |  |  | KZT |
Bank customer loans |  |  | 657 |  |  | July 2021- September 2045 |  |  | 11.27 | % |  |  | 611 |  |  | RUB |
|  | $ | 11,667 |  |  |  |  |  |  |  |  |  |  |  |  |  |

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