Member Cash Advances, Net

6 Months Ended

Jun. 30, 2022

Note 7 Member Cash Advances, Net

Below is detail regarding Member cash advances, net as of June 30, 2022 (in thousands):


Days From Origination	Gross Member Advances		Allowance for Unrecoverable Advances			Member Advances, Net
1-10	$	59,767	$	(1,746	)	$	58,021
11-30		17,749		(4,750	)		12,999
31-60		7,431		(4,573	)		2,858
61-90		5,859		(4,432	)		1,427
91-120		4,430		(3,649	)		781

Total	$	95,236	$	(19,150	)	$	76,086

Below is detail regarding Member cash advances, net as of December 31, 2021 (in thousands):


Days From Origination	Gross Member Advances		Allowance for Unrecoverable Advances			Member Advances, Net
1-10	$	39,910	$	(1,313	)	$	38,597
11-30		8,111		(2,084	)		6,027
31-60		4,781		(2,652	)		2,129
61-90		3,986		(2,735	)		1,251
91-120		4,220		(3,211	)		1,009

Total	$	61,008	$	(11,995	)	$	49,013

Member advances, net, represent outstanding advances, tips, and processing fees, net of direct origination costs, less an allowance for unrecoverable advances.

The roll-forward of the allowance for unrecoverable advances is as follows (dollars in thousands):


Opening allowance balance at January 1, 2022	$	11,995
Plus: provision for unrecoverable advances		27,642
Less: amounts written-off		(20,487	)

Ending allowance balance at June 30, 2022	$	19,150

Opening allowance balance at January 1, 2021	$	12,580
Plus: provision for unrecoverable advances		10,933
Less: amounts written-off		(13,964	)

Ending allowance balance at June 30, 2021	$	9,549