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Customer Loans Receivable (Tables) | 3 Months Ended
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Mar. 31, 2024
Customer Loans Receivable (Tables) |
Schedule of customer loans receivable by credit rating |
|  | Year of Origination |  |  | March 31, 2024 |
|  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Total |  |  | % |
Prime — FICO score 680 and greater |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 141,710 |  |  | $ | 5,164,659 |  |  | $ | 5,306,369 |  |  |  | 86 | %
Near-prime — FICO score 620 to 679 |  |  | - |  |  |  | - |  |  |  | 18,191 |  |  |  | - |  |  |  | 11,057 |  |  |  | 606,219 |  |  |  | 635,467 |  |  |  | 10 | %
Sub-prime — FICO score less than 620 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 155,722 |  |  |  | 155,722 |  |  |  | 3 | %
Business entity — FICO not available |  |  |  |  |  |  | - |  |  |  | - |  |  |  | 48,396 |  |  |  | 22,932 |  |  |  | - |  |  |  | 71,328 |  |  |  | 1 | %
Total Customer Loan Receivables, gross |  | $ | - |  |  | $ | - |  |  | $ | 18,191 |  |  | $ | 48,396 |  |  | $ | 175,699 |  |  | $ | 5,926,600 |  |  | $ | 6,168,886 |  |  |  | 100 | %
|  | Year of Origination |  |  | December 31, 2023 |
|  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Total |  |  | % |
Prime — FICO score 680 and greater |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 181,315 |  |  | $ | 438,676 |  |  | $ | 5,234,583 |  |  | $ | 5,854,574 |  |  |  | 87 | %
Near-prime — FICO score 620 to 679 |  |  | - |  |  |  | 19,117 |  |  |  | - |  |  |  | 18,107 |  |  |  | 42,175 |  |  |  | 622,398 |  |  |  | 701,797 |  |  |  | 10 | %
Sub-prime — FICO score less than 620 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 72,489 |  |  |  | 84,992 |  |  |  | 157,481 |  |  |  | 2 | %
Business entity — FICO not available |  |  |  |  |  |  | - |  |  |  | 52,753 |  |  |  | 28,051 |  |  |  | - |  |  |  | - |  |  |  | 80,804 |  |  |  | 1 | %
Total Customer Loan Receivables, gross |  | $ | - |  |  | $ | 19,117 |  |  | $ | 52,753 |  |  | $ | 227,473 |  |  | $ | 553,340 |  |  | $ | 5,941,973 |  |  | $ | 6,794,656 |  |  |  | 100 | %
Schedule of customer loans receivable |
|  | March 31, 2024 |  |  | December 31, 2023 |
|  | (Unaudited) |  |  |  |
Customer loans receivable, gross |  | $ | 6,168,886 |  |  | $ | 6,794,656 |
Less: unamortized loan discounts |  |  | (572 | ) |  |  | (2,332 | )
Allowance for loan losses |  |  | (328,308 | ) |  |  | (256,808 | )
Customer loans receivable, net |  |  | 5,840,006 |  |  |  | 6,535,516 |
Less: Current portion |  |  | 1,395,744 |  |  |  | 2,212,574 |
Non-current portion |  | $ | 4,444,262 |  |  | $ | 4,322,942 |
Schedule of maturities of customer loans receivable |
For the year ending December 31, |  | Amount |
2024 (remainder of) |  | $ | 1,395,744 |
2025 |  |  | 1,367,415 |
2026 |  |  | 1,203,664 |
2027 |  |  | 990,290 |
2028 |  |  | 665,563 |
Thereafter |  |  | 546,210 |
Total customer loans receivable |  | $ | 6,168,886 |
Schedule of allowance for loan losses |
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
|  | (Unaudited) |
Balance – beginning of period |  | $ | 256,808 |  |  | $ | 288,457 |
Provision for loan losses |  |  | 61,298 |  |  |  | 106,862 |
Chargeoffs and adjustments |  |  | 10,202 |  |  |  | 23,308 |
Balance – end of period |  | $ | 328,308 |  |  | $ | 418,627 |

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