Loans Receivable, Net

12 Months Ended

Dec. 31, 2014

9. Loans Receivable, Net

Loans receivable as of December 31, 2013 and 2014 consist of the following:


	2013			2014
Loans receivable:
-Within credit term		15,519,434			7,120,523
-Past due		—			—
Total loans receivable		15,519,434			7,120,523
Allowance for loan losses		(155,194	)		(188,054	)
Loans receivable, net		15,364,240			6,932,469

The loan interest rate ranging between 8.0%-15.2% for the years ended December 31, 2014. All loans are short-term loans and secured by collateral.

The following table presents the activity in the allowance for loan losses as of and for the years ended December 31, 2013 and 2014.


	$
Loans receivable—December 31, 2012		—
Provisions		155,194
Recoveries		—
Charge-offs		—
Exchange rate translation		—

Loans receivable—December 31, 2013		155,194
Provisions		249,057
Recoveries		(212,423	)
Charge-offs		—
Exchange rate translation		(3,774	)

Loans receivable—December 31, 2014		188,054

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References+ Details