XML 24 R15.htm IDEA: XBRL DOCUMENT v3.25.2
Line of Credit
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Line of Credit Line of Credit
We fund our consumer receivables through the use of a secured line of credit. We had an outstanding principal balance on our line of credit totaling $131.3 million and $105.0 million as of June 30, 2025 and December 31, 2024, respectively. Our revolving credit facilities are secured by a pool of pledged, eligible notes receivable. As of June 30, 2025 and December 31, 2024, we had pledged $181.9 million and $168.4 million of eligible gross notes receivable, respectively. We had an unused borrowing capacity of $4.0 million and $39.0 million as of June 30, 2025 and December 31, 2024, respectively.

Expenses related to our line of credit for the three and six months ended June 30, 2025 and 2024 were as follows:

For the three months ended June 30, For the six months ended June 30,
(in thousands)2025202420252024
Interest expense on utilization$3,297 $2,264 $5,938 $5,765 
Interest expense on unused daily amounts40 94 108 118 
Amortization of debt issuance costs111 119 219 315 

For the three months ended June 30, 2025 and 2024, our line of credit carried an effective annual interest rate of 13.05% and 12.75%, respectively. For the six months ended June 30, 2025 and 2024, our line of credit carried an effective annual interest rate of 10.05% and 13.98%, respectively.