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v3.25.3

Indemnification Liability (Tables) | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2025 | Dec. 31, 2024
Indemnification Liability |  |
Schedule of Outstanding Amounts |  | Schedule of Outstanding Amounts
|  | December 31, 2024 |  |  | December 31, 2023 |
Secured term loans |  | $ | - |  |  | $ | 55,215,013 |
Unsecured loans and lines of credit |  |  | - |  |  |  | 431,640 |
Total loans funded by PCCU |  | $ | - |  |  | $ | 55,646,653 |
Schedule of Indemnity Liability |  | The indemnity liability activity are as follows: Schedule of Indemnity Liability
|  | 2024 |  |  | 2023 |
|  | Year ended December 31, |
|  | 2024 |  |  | 2023 |
Beginning balance |  | $ | 1,382,408 |  |  | $ | 499,465 |
Cumulative effect from adoption of CECL |  |  | - |  |  |  | 566,341 |
Charge-offs |  |  | - |  |  |  | - |
Recoveries |  |  | - |  |  |  | - |
(Benefit) expense |  |  | (1,382,408 | ) |  |  | 316,602 |
Ending balance |  | $ | - |  |  | $ | 1,382,408 |
Schedule of Indemnified Loans Risk Rating |  | The carrying value, excluding the CECL Reserve, of the Company’s indemnified loans held at carrying value within each risk rating is as follows: Schedule of Indemnified Loans Risk Rating
Risk rating |  | December 31, 2024 |  |  | December 31, 2023 |
3 |  | $ | - |  |  | $ | 10,100,000 |
4 |  |  | - |  |  |  | 3,431,640 |
5 |  |  | - |  |  |  | 28,115,013 |
6 |  |  | - |  |  |  | 10,900,000 |
7 |  |  | - |  |  |  | 3,100,000 |
Grand total |  | $ | - |  |  | $ | 55,646,653 |
Schedule of Provision for Loan Losses | The provision for loan losses (benefit) consists of the following activity for the three months ended June 30, 2025 and June 30, 2024: Schedule of Provision for Loan Losses
|  | Commercial real estate loans |  |  | Indemnity liability |  |  | Total |  |  | Commercial real estate loans |  |  | Indemnity liability |  |  | Total |
|  | Three Months Ended June 30, 2025 |  |  | Three Months Ended June 30, 2024 |
|  | Commercial real estate loans |  |  | Indemnity liability |  |  | Total |  |  | Commercial real estate loans |  |  | Indemnity liability |  |  | Total |
Credit loss (benefit) |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | (248 | ) |  | $ | (97,000 | ) |  | $ | (97,248 | )
The provision for loan losses (benefit) consists of the following activity for the six months ended June 30, 2025 and June 30, 2024:
|  | Commercial real estate loans |  |  | Indemnity liability |  |  | Total |  |  | Commercial real estate loans |  |  | Indemnity liability |  |  | Total |
|  | Six Months Ended June 30, 2025 |  |  | Six Months Ended June 30, 2024 |
|  | Commercial real estate loans |  |  | Indemnity liability |  |  | Total |  |  | Commercial real estate loans |  |  | Indemnity liability |  |  | Total |
Credit loss (benefit) |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | (1,890 | ) |  | $ | (164,145 | ) |  | $ | (166,035 | )
| The provision for credit losses (benefit) on the statements of operations consists of the following activity for the years ended December 31, 2024 and December 31, 2023: Schedule of Provision for Loan Losses
|  | Commercial real estate loans |  |  | Indemnity liability |  |  | Total |  |  | Commercial real estate loans |  |  | Indemnity liability |  |  | Total |
|  | December 31, 2024 |  |  | December 31, 2023 |
|  | Commercial real estate loans |  |  | Indemnity liability |  |  | Total |  |  | Commercial real estate loans |  |  | Indemnity liability |  |  | Total |
Credit loss (benefit) |  | $ | (10,723 | ) |  | $ | (1,382,408 | ) |  | $ | (1,393,131 | ) |  | $ | (25,745 | ) |  | $ | 316,602 |  |  | $ | 290,857 |

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