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DEBT (Tables) | 3 Months Ended
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Mar. 31, 2020
Debt Disclosure [Abstract] |
Schedule of Debt | Information on our debt is as follows:
|  | March 31, 2020 |  | December 31, 2019
|  | (in thousands)
Mortgage loan with a fixed interest rate of 4.14% per annum, with monthly payments of interest only, and a balance of $97,100,000 due on July 1, 2026. The loan is nonrecourse. |  | $ | 97,100 |  |  | $ | 97,100 |
Deferred loan costs related to mortgage loans |  | (167 | ) |  | (174 | )
Total Mortgages Payable |  | 96,933 |  |  | 96,926 |
Secured borrowing principal on SBA 7(a) loans sold for a premium and excess spread—variable rate, reset quarterly, based on prime rate with weighted average coupon rate of 5.42% and 5.68% at March 31, 2020 and December 31, 2019, respectively. |  | 7,312 |  |  | 7,845 |
Secured borrowing principal on SBA 7(a) loans sold for excess spread—variable rate, reset quarterly, based on prime rate with weighted average coupon rate of 3.07% and 3.32% at March 31, 2020 and December 31, 2019, respectively. |  | 2,826 |  |  | 4,307 |
|  | 10,138 |  |  | 12,152 |
Unamortized premiums |  | 582 |  |  | 629 |
Total Secured Borrowings—Government Guaranteed Loans |  | 10,720 |  |  | 12,781 |
Revolving credit facility |  | 159,500 |  |  | 153,000 |
SBA 7(a) loan-backed notes with a variable interest rate which resets monthly based on the lesser of the one-month LIBOR plus 1.40% or the prime rate less 1.08%, with payments of interest and principal due monthly. Balance due at maturity in March 20, 2043. |  | 18,033 |  |  | 22,282 |
Junior subordinated notes with a variable interest rate which resets quarterly based on the three-month LIBOR plus 3.25%, with quarterly interest only payments. Balance due at maturity on March 30, 2035. |  | 27,070 |  |  | 27,070 |
|  | 204,603 |  |  | 202,352 |
Deferred loan costs related to other debt |  | (2,608 | ) |  | (2,867 | )
Discount on junior subordinated notes |  | (1,749 | ) |  | (1,771 | )
Total Other Debt |  | 200,246 |  |  | 197,714 |
Total Debt |  | $ | 307,899 |  |  | $ | 307,421 |
Future Principal Payments on Debt | Future principal payments on our debt (face value) at March 31, 2020 are as follows:
Years Ending December 31, |  | Mortgages Payable |  | Secured Borrowings Principal (1) |  | Other (1) (2) |  | Total
|  | (in thousands)
2020 (Nine months ending December 31, 2020) |  | $ | — |  |  | $ | 366 |  |  | $ | 536 |  |  | $ | 902 |
2021 |  | — |  |  | 502 |  |  | 1,092 |  |  | 1,594 |
2022 |  | — |  |  | 518 |  |  | 160,625 |  |  | 161,143 |
2023 |  | — |  |  | 535 |  |  | 1,340 |  |  | 1,875 |
2024 |  | — |  |  | 552 |  |  | 838 |  |  | 1,390 |
Thereafter |  | 97,100 |  |  | 7,665 |  |  | 40,172 |  |  | 144,937 |
|  | $ | 97,100 |  |  | $ | 10,138 |  |  | $ | 204,603 |  |  | $ | 311,841 |
(1) | Principal payments on secured borrowings and SBA 7(a) loan-backed notes, which are included in Other, are generally dependent upon cash flows received from the underlying loans. Our estimate of their repayment is based on scheduled payments on the underlying loans. Our estimate will differ from actual amounts to the extent we experience prepayments and or loan liquidations or charge-offs. No payment is due unless payments are received from the borrowers on the underlying loans.
(2) | Represents the junior subordinated notes, SBA 7(a) loan-backed notes, and revolving credit facility.

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
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