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Loans Held for Investment, Net (Tables)

6 Months Ended

Jun. 30, 2024

Loans Held for Investment, Net [Abstract]

Schedule of Company’s Loans Held for Investment

The following reflects the credit quality of the Company’s loans held for investment as of June 30, 2024:

						Past Due
		Current				30-59 Days				60-89 days				> 90 days				Total
Loans held for investment		$	5,426,435			$	89,142			$	62,316			$	35,294			$	5,613,187
Allowance for credit losses																			(698,077	)
Loans held for investment, net																		$	4,915,110

Schedule of Allowance for Credit Losses on Loans Held for Investment

The changes in allowance for credit losses on loans held for investment as of June 30, 2024 is as follows:

Balance at January 1, 2024		$	-
Balance acquired from Credova Merger			1,130,515
Charge-offs			(586,640	)
Provision for credit losses			154,202
Balance at June 30, 2024		$	698,077

X

- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

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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.

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