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LOANS RECEIVABLE | 6 Months Ended
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Jun. 30, 2019
Receivables [Abstract] |
LOANS RECEIVABLE | LOANS RECEIVABLE Loans receivable consist of the following:
|  | June 30, 2019 |  | December 31, 2018
|  | (in thousands)
SBA 7(a) loans receivable, subject to loan-backed notes |  | $ | 32,966 |  |  | $ | 36,847 |
SBA 7(a) loans receivable, subject to credit risk |  | 23,004 |  |  | 29,385 |
SBA 7(a) loans receivable, subject to secured borrowings |  | 15,905 |  |  | 16,409 |
Loans receivable |  | 71,875 |  |  | 82,641 |
Deferred capitalized costs |  | 1,143 |  |  | 1,309 |
Loan loss reserves |  | (533 | ) |  | (702 | )
Loans receivable, net |  | $ | 72,485 |  |  | $ | 83,248 |
SBA 7(a) Loans Receivable, Subject to Loan-Backed Notes—Represents the unguaranteed portions of loans originated under the SBA 7(a) Program which were transferred to a trust and are held as collateral in connection with a securitization transaction. The proceeds received from the transfer are reflected as loan-backed notes payable (Note 7). SBA 7(a) Loans Receivable, Subject to Credit Risk—Represents the unguaranteed portions of loans originated under the SBA 7(a) Program which were retained by the Company and the government guaranteed portions of such loans that have not yet been fully funded or sold. SBA 7(a) Loans Receivable, Subject to Secured Borrowings—Represents the government guaranteed portions of loans originated under the SBA 7(a) Program which were sold with the proceeds received from the sale reflected as secured borrowings—government guaranteed loans. There is no credit risk associated with these loans since the SBA has guaranteed payment of the principal. At June 30, 2019 and December 31, 2018, 99.9% and 99.7%, respectively, of our loans subject to credit risk were current. We classify loans with negative characteristics in substandard categories ranging from special mention to doubtful. At June 30, 2019 and December 31, 2018, $584,000 and $235,000, respectively, of loans subject to credit risk were classified in substandard categories. At June 30, 2019 and December 31, 2018, our loans subject to credit risk were 98.7% and 98.3%, respectively, concentrated in the hospitality industry.

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- 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 Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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- References No definition available. + Details
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