XML 35 R24.htm IDEA: XBRL DOCUMENT v3.25.3

LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES (Tables)

6 Months Ended

Sep. 30, 2025

Receivables [Abstract]

Schedule of Gross Loans Receivable by Customer Tenure

The following is a summary of gross loans receivable by Customer Tenure as of:

Customer Tenure			September 30, 2025			March 31, 2025
0 to 5 months			$	113,638,876		$	101,878,703
6 to 17 months			100,497,569			75,379,597
18 to 35 months			95,929,589			99,857,401
36 to 59 months			147,844,982			130,228,889
60+ months			856,224,829			813,921,811
TALs			1,355,373			4,369,517
Total gross loans			$	1,315,491,218		$	1,225,635,918

The following table presents unpaid accrued interest reversed against interest income by Customer Tenure for the three and six months ended September 30, 2025 and 2024:

						Three months ended September 30,												Six months ended September 30,
						2025						2024						2025						2024
Customer Tenure
0 to 5 months						$	(1,622,815)					$	(1,282,527)					$	(3,047,296)					$	(2,429,587)
6 to 17 months						(1,037,816)						(807,263)						(1,688,160)						(1,398,521)
18 to 35 months						(647,152)						(820,520)						(1,163,010)						(1,588,289)
36 to 59 months						(704,057)						(853,109)						(1,287,819)						(1,723,641)
60+ months						(3,294,499)						(2,954,446)						(6,053,306)						(5,642,215)
Total						$	(7,306,339)					$	(6,717,865)					$	(13,239,591)					$	(12,782,253)

Schedule of Payment Performance on a Recency Basis

The following table provides a breakdown of the Company’s gross loans receivable by current payment performance on a recency basis and year of origination at September 30, 2025:

						Term Loans By Origination
Loans						Up to 1 Year Ago			Between 1 and 2 Years Ago			Between 2 and 3 Years Ago			Between 3 and 4 Years Ago			Between 4 and 5 Years Ago			More than 5 Years Ago						Total
Current						$	1,139,961,629		$	48,872,647		$	4,006,453		$	306,521		$	6,960		$	4,690					$	1,193,158,900
30 - 60 days past due						41,640,687			3,803,085			590,396			75,105			10,839			1,335						46,121,447
61 - 90 days past due						26,659,228			2,544,847			277,202			52,956			995			—						29,535,228
91 or more days past due						39,419,016			5,434,192			384,488			74,350			2,654			5,570						45,320,270
Total						$	1,247,680,560		$	60,654,771		$	5,258,539		$	508,932		$	21,448		$	11,595					$	1,314,135,845
						Term Loans By Origination
TALs						Up to 1 Year Ago			Between 1 and 2 Years Ago			Between 2 and 3 Years Ago			Between 3 and 4 Years Ago			Between 4 and 5 Years Ago			More than 5 Years Ago						Total
Current						$	151,714		$	19,991		$	—		$	—		$	—		$	—					$	171,705
30 - 60 days past due						67,733			12,812			—			—			—			—						80,545
61 - 90 days past due						54,159			19,703			—			—			—			—						73,862
91 or more days past due						975,309			53,952			—			—			—			—						1,029,261
Total						$	1,248,915		$	106,458		$	—		$	—		$	—		$	—					$	1,355,373
Total gross loans																											$	1,315,491,218

The following table provides a breakdown of the Company’s gross loans receivable by current payment performance on a recency basis and year of origination at March 31, 2025:

						Term Loans By Origination
Loans						Up to 1 Year Ago			Between 1 and 2 Years Ago			Between 2 and 3 Years Ago			Between 3 and 4 Years Ago			Between 4 and 5 Years Ago			More than 5 Years Ago						Total
Current						$	1,053,793,007		$	50,053,899		$	4,842,323		$	251,689		$	9,764		$	3,256					$	1,108,953,938
30 - 60 days past due						34,713,638			3,762,456			510,626			70,739			3,765			6,865						39,068,089
61 - 90 days past due						25,209,122			2,176,520			202,706			43,404			1,606			—						27,633,358
91 or more days past due						40,846,872			4,315,756			359,135			80,844			2,352			6,057						45,611,016
Total						$	1,154,562,639		$	60,308,631		$	5,914,790		$	446,676		$	17,487		$	16,178					$	1,221,266,401
						Term Loans By Origination
TALs						Up to 1 Year Ago			Between 1 and 2 Years Ago			Between 2 and 3 Years Ago			Between 3 and 4 Years Ago			Between 4 and 5 Years Ago			More than 5 Years Ago						Total
Current						$	2,634,949		$	137,685		$	—		$	—		$	—		$	—					$	2,772,634
30 - 60 days past due						1,477,466			26,980			—			—			—			—						1,504,446
61 - 90 days past due						—			22,376			—			—			—			—						22,376
91 or more days past due						—			70,061			—			—			—			—						70,061
Total						$	4,112,415		$	257,102		$	—		$	—		$	—		$	—					$	4,369,517
Total gross loans																											$	1,225,635,918

The following table provides a breakdown of the Company’s gross loans receivable by current payment performance on a contractual basis and year of origination at September 30, 2025:

						Term Loans By Origination
Loans						Up to 1 Year Ago			Between 1 and 2 Years Ago			Between 2 and 3 Years Ago			Between 3 and 4 Years Ago			Between 4 and 5 Years Ago			More than 5 Years Ago						Total
Current						$	1,128,111,194		$	43,576,325		$	2,994,782		$	169,241		$	1,117		$	—					$	1,174,852,659
30 - 60 days past due						43,734,902			3,023,751			213,105			14,175			—			—						46,985,933
61 - 90 days past due						29,422,132			2,758,077			281,176			18,537			2,499			—						32,482,421
91 or more days past due						46,412,332			11,296,618			1,769,475			306,980			17,832			11,595						59,814,832
Total						$	1,247,680,560		$	60,654,771		$	5,258,538		$	508,933		$	21,448		$	11,595					$	1,314,135,845
						Term Loans By Origination
TALs						Up to 1 Year Ago			Between 1 and 2 Years Ago			Between 2 and 3 Years Ago			Between 3 and 4 Years Ago			Between 4 and 5 Years Ago			More than 5 Years Ago						Total
Current						$	93,144		$	12,623		$	—		$	—		$	—		$	—					$	105,767
30 - 60 days past due						35,998			6,404			—			—			—			—						42,402
61 - 90 days past due						45,487			19,077			—			—			—			—						64,564
91 or more days past due						1,074,286			68,354			—			—			—			—						1,142,640
Total						$	1,248,915		$	106,458		$	—		$	—		$	—		$	—					$	1,355,373
Total gross loans																											$	1,315,491,218

The following table provides a breakdown of the Company’s gross loans receivable by current payment performance on a contractual basis and year of origination at March 31, 2025:

						Term Loans By Origination
Loans						Up to 1 Year Ago			Between 1 and 2 Years Ago			Between 2 and 3 Years Ago			Between 3 and 4 Years Ago			Between 4 and 5 Years Ago			More than 5 Years Ago						Total
Current						$	1,036,242,539		$	43,391,314		$	3,580,872		$	112,427		$	1,559		$	—					$	1,083,328,711
30 - 60 days past due						38,559,638			3,062,579			231,471			20,496			—			—						41,874,184
61 - 90 days past due						30,254,181			2,750,211			235,759			11,600			—			—						33,251,751
91 or more days past due						49,506,281			11,104,527			1,866,688			302,153			15,928			16,178						62,811,755
Total						$	1,154,562,639		$	60,308,631		$	5,914,790		$	446,676		$	17,487		$	16,178					$	1,221,266,401
						Term Loans By Origination
TALs						Up to 1 Year Ago			Between 1 and 2 Years Ago			Between 2 and 3 Years Ago			Between 3 and 4 Years Ago			Between 4 and 5 Years Ago			More than 5 Years Ago						Total
Current						$	2,634,950		$	111,585		$	—		$	—		$	—		$	—					$	2,746,535
30 - 60 days past due						1,477,465			15,502			—			—			—			—						1,492,967
61 - 90 days past due						—			19,812			—			—			—			—						19,812
91 or more days past due						—			110,203			—			—			—			—						110,203
Total						$	4,112,415		$	257,102		$	—		$	—		$	—		$	—					$	4,369,517
Total gross loans																											$	1,225,635,918

The following table provides a breakdown of the Company’s gross charge-offs by fiscal year of origination for the three and six months ended September 30, 2025:

			Three months ended September 30,												Six months ended September 30,
			Gross Charge-offs by Origination												Gross Charge-offs by Origination
Origination Year			Loans			TALs			Total						Loans			TALs			Total
2021 and prior			$	677		$	—		$	677					$	6,722		$	—		$	6,722
2022			36,946			—			36,946						122,812			—			122,812
2023			248,380			—			248,380						579,501			—			579,501
2024			2,181,320			25,775			2,207,095						6,108,844			105,766			6,214,610
2025			40,755,049			1,209,038			41,964,087						85,812,545			1,213,038			87,025,583
2026			837,779			—			837,779						843,085			—			843,085
Total			$	44,060,151		$	1,234,813		$	45,294,964					$	93,473,509		$	1,318,804		$	94,792,313

The following table provides a breakdown of the Company’s gross charge-offs by fiscal year of origination for the three and six months ended September 30, 2024:

			Three months ended September 30,												Six months ended September 30,
			Gross Charge-offs by Origination												Gross Charge-offs by Origination
Origination Year			Loans			TALs			Total						Loans			TALs			Total
2020 and prior			$	4,638		$	—		$	4,638					$	24,919		$	—		$	24,919
2021			12,218			—			12,218						23,486			—			23,486
2022			236,627			—			236,627						559,571			—			559,571
2023			2,832,087			175			2,832,262						7,107,787			175			7,107,962
2024			40,845,825			2,109,768			42,955,593						80,051,961			2,162,893			82,214,854
2025			636,715			—			636,715						636,715			—			636,715
Total			$	44,568,110		$	2,109,943		$	46,678,053					$	88,404,439		$	2,163,068		$	90,567,507

Summary of Changes in the Allowance for Loan Losses

The following table presents a roll forward of the allowance for credit losses for the three and six months ended September 30, 2025 and 2024:

			Three months ended September 30,												Six months ended September 30,
			2025						2024						2025						2024
Beginning balance			$	109,027,028					$	109,643,363					$	103,347,129					$	102,962,811
Provision for credit losses			49,840,902						46,668,521						100,356,871						92,087,528
Charge-offs			(45,294,964)						(46,678,053)						(94,792,313)						(90,567,507)
Recoveries1			4,223,617						4,821,664						8,884,896						9,972,663
Net charge-offs			(41,071,347)						(41,856,389)						(85,907,417)						(80,594,844)
Ending Balance			$	117,796,583					$	114,455,495					$	117,796,583					$	114,455,495

Summary of the Past Due Receivables

The following table is an aging analysis on a recency basis at amortized cost of the Company’s gross loans receivable at September 30, 2025:

									Days Past Due - Recency Basis
Customer Tenure						Current			30 - 60			61 - 90			Over 90			Total Past Due			Total Loans
0 to 5 months						$	91,275,962		$	7,400,801		$	5,777,385		$	9,184,728		$	22,362,914		$	113,638,876
6 to 17 months						85,663,456			5,058,802			3,749,179			6,026,132			14,834,113			100,497,569
18 to 35 months						85,179,570			4,055,842			2,769,876			3,924,301			10,750,019			95,929,589
36 to 59 months						134,384,827			5,449,786			3,219,300			4,791,069			13,460,155			147,844,982
60+ months						796,655,085			24,156,216			14,019,488			21,394,040			59,569,744			856,224,829
TALs						171,705			80,545			73,862			1,029,261			1,183,668			1,355,373
Total gross loans						1,193,330,605			46,201,992			29,609,090			46,349,531			122,160,613			1,315,491,218
Unearned interest, insurance and fees						310,313,891			8,572,156			7,994,386			12,238,224			28,804,766			339,118,657
Total net loans						$	1,503,644,496		$	54,774,148		$	37,603,476		$	58,587,755		$	150,965,379		$	1,654,609,875
Percentage of period-end gross loans receivable									3.5%			2.3%			3.5%			9.3%

The following table is an aging analysis on a recency basis at amortized cost of the Company’s gross loans receivable at March 31, 2025:

									Days Past Due - Recency Basis
Customer Tenure						Current			30 - 60			61 - 90			Over 90			Total Past Due			Total Loans
0 to 5 months						$	77,087,815		$	6,036,410		$	6,587,901		$	12,166,577		$	24,790,888		$	101,878,703
6 to 17 months						65,677,583			3,126,374			2,398,424			4,177,216			9,702,014			75,379,597
18 to 35 months						89,776,541			3,700,216			2,394,549			3,986,095			10,080,860			99,857,401
36 to 59 months						117,976,116			4,641,585			2,917,862			4,693,326			12,252,773			130,228,889
60+ months						758,435,883			21,563,504			13,334,622			20,587,802			55,485,928			813,921,811
TALs						2,772,634			1,504,446			22,376			70,061			1,596,883			4,369,517
Total gross loans						1,111,726,572			40,572,535			27,655,734			45,681,077			113,909,346			1,225,635,918
Unearned interest, insurance and fees						(282,034,628)			(7,588,025)			(7,590,060)			(12,107,391)			(27,285,476)			(309,320,104)
Total net loans						$	829,691,944		$	32,984,510		$	20,065,674		$	33,573,686		$	86,623,870		$	916,315,814
Percentage of period-end gross loans receivable									3.3		%	2.3		%	3.7		%	9.3		%

The following table is an aging analysis on a contractual basis at amortized cost of the Company’s gross loans receivable at September 30, 2025:

									Days Past Due - Contractual Basis
Customer Tenure						Current			30 - 60			61 - 90			Over 90			Total Past Due			Total Loans
0 to 5 months						$	90,199,573		$	7,297,950		$	5,860,242		$	10,281,111		$	23,439,303		$	113,638,876
6 to 17 months						84,544,906			5,031,832			3,918,022			7,002,809			15,952,663			100,497,569
18 to 35 months						83,480,257			4,081,807			2,930,965			5,436,560			12,449,332			95,929,589
36 to 59 months						132,137,229			5,379,862			3,606,197			6,721,694			15,707,753			147,844,982
60+ months						784,490,694			25,194,482			16,166,995			30,372,658			71,734,135			856,224,829
TALs						105,767			42,402			64,564			1,142,640			1,249,606			1,355,373
Total gross loans						1,174,958,426			47,028,335			32,546,985			60,957,472			140,532,792			1,315,491,218
Unearned interest, insurance and fees						306,507,912			8,256,744			8,745,013			15,608,988			32,610,745			339,118,657
Total net loans						$	1,481,466,338		$	55,285,079		$	41,291,998		$	76,566,460		$	173,143,537		$	1,654,609,875
Percentage of period-end gross loans receivable									3.6%			2.5%			4.6%			10.7		%

The following table is an aging analysis on a contractual basis at amortized cost of the Company’s gross loans receivable at March 31, 2025:

									Days Past Due - Contractual Basis
Customer Tenure						Current			30 - 60			61 - 90			Over 90			Total Past Due			Total Loans
0 to 5 months						$	75,594,279		$	6,149,270		$	6,896,035		$	13,239,119		$	26,284,424		$	101,878,703
6 to 17 months						64,188,458			3,112,624			2,739,963			5,338,552			11,191,139			75,379,597
18 to 35 months						87,012,982			3,864,242			2,986,200			5,993,977			12,844,419			99,857,401
36 to 59 months						114,388,973			4,869,065			3,611,704			7,359,147			15,839,916			130,228,889
60+ months						742,144,019			23,878,983			17,017,849			30,880,960			71,777,792			813,921,811
TALs						2,746,535			1,492,967			19,812			110,203			1,622,982			4,369,517
Total gross loans						1,086,075,246			43,367,151			33,271,563			62,921,958			139,560,672			1,225,635,918
Unearned interest, insurance and fees						(276,573,216)			(7,561,258)			(9,034,007)			(16,151,623)			(32,746,888)			(309,320,104)
Total net loans						$	809,502,030		$	35,805,893		$	24,237,556		$	46,770,335		$	106,813,784		$	916,315,814
Percentage of period-end gross loans receivable									3.5		%	2.7		%	5.1		%	11.4		%

Schedule of Amortized Cost Basis of Loans on Nonaccrual

The following table presents the amortized cost basis of loans on nonaccrual status as of the beginning of the reporting period and the end of the reporting period, as well as interest income recognized on nonaccrual loans for the three and six months ended September 30, 2025 and 2024:

						Nonaccrual Loans Receivable
Customer Tenure						As of September 30, 2025			As of March 31, 2025			Interest Income Recognized for the three months ended September 30, 2025			Interest Income Recognized for the three months ended September 30, 2024			Interest Income Recognized for the six months ended September 30, 2025			Interest Income Recognized for the six months ended September 30, 2024
0 to 5 months						$	16,024,225		$	19,169,040		$	216,319		$	170,453		$	467,918		$	369,255
6 to 17 months						11,154,899			8,510,132			213,554			208,284			459,779			443,748
18 to 35 months						8,868,563			10,024,500			293,338			349,824			641,038			711,108
36 to 59 months						11,007,452			12,151,649			355,944			441,629			788,005			913,294
60+ months						49,710,180			52,154,586			1,720,409			1,493,432			3,576,924			2,956,357
Unearned interest, insurance and fees						(22,561,989)			(23,775,911)			—			—			—			—
Total						$	74,203,330		$	78,233,996		$	2,799,564		$	2,663,622		$	5,933,664		$	5,393,762

X

- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-13

+ Details

Name:	us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-5

+ Details

Name:	us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of aging analysis for financing receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-14

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 80
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479294/326-20-55-80

+ Details

Name:	us-gaap_PastDueFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_ReceivablesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financing receivable on nonaccrual status.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-16

+ Details

Name:	us-gaap_ScheduleOfFinancingReceivablesNonAccrualStatusTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration