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Line of Credit
 9 Months Ended
Sep. 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 $118.0 million and $105.0 million as of September 30, 2025 and December 31, 2024, respectively. Our revolving credit facilities are secured by a pool of pledged, eligible notes receivable. As of September 30, 2025 and December 31, 2024, we had pledged $185.9 million and $168.4 million of eligible gross notes receivable, respectively. We had an unused borrowing capacity of $32.0 million and $39.0 million as of September 30, 2025 and December 31, 2024, respectively.

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

For the three months ended September 30, For the nine months ended September 30,
(in thousands)2025202420252024
Interest expense on utilization$3,735 $2,608 $9,673 $8,373 
Interest expense on unused daily amounts22 82 130 200 
Amortization of debt issuance costs112 102 330 417 

For the three months ended September 30, 2025 and 2024, our line of credit carried an effective annual interest rate of 11.99% and 12.65%, respectively. For the nine months ended September 30, 2025 and 2024, our line of credit carried an effective annual interest rate of 11.57% and 11.75%, respectively.