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Other Receivables (Tables) | 9 Months Ended
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Sep. 30, 2024
Receivables [Abstract] |
Schedule of Other Receivables, Net | As of September 30, 2024 and December 31, 2023, our notes receivable at amortized cost was comprised of the following:
| September 30, 2024 | December 31, 2023
Notes receivable, gross | $ | 155,072,914 |  | $ | 146,225,832 |
Deferred transaction income | (3,659,424) |  | (3,340,150) |
Notes receivable, amortized cost | $ | 151,413,490 |  | $ | 142,885,682 |
As of September 30, 2024 and December 31, 2023, the balance of other receivables, net, on the consolidated balance sheets was comprised of the following:
As of | September 30, 2024 | December 31, 2023
Late payment fees receivable, net | $ | 1,362,289 |  | $ | 548,649 |
Receivables from merchants, net | 589,751 |  | 1,023,079 |
Receivables from originating partner | 1,871,240 |  | — |
Other receivables, net | $ | 3,823,280 |  | $ | 1,571,728 |
The activity in the allowance for other credit losses related to late payment fees, including the provision for other credit losses, charge-offs, and recoveries for the three and nine months ended September 30, 2024 and 2023 was as follows:
| For the three months ended September 30, |  | For the nine months ended September 30,
| 2024 | 2023 |  | 2024 | 2023
Balance at beginning of period | $ | 1,525,889 |  | $ | 768,602 |  |  | $ | 1,272,353 |  | $ | 980,713 |
Provision for other credit losses | 2,340,716 |  | 917,226 |  |  | 4,939,580 |  | 2,067,268 |
Charge-offs | (1,381,418) |  | (783,784) |  |  | (3,994,062) |  | (2,539,804) |
Recoveries of charged-off receivables | 107,814 |  | 114,396 |  |  | 375,130 |  | 508,263 |
Balance at end of period | $ | 2,593,001 |  | $ | 1,016,440 |  |  | $ | 2,593,001 |  | $ | 1,016,440 |

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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(4)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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