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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended
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Sep. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Measurement Inputs | The following summarizes the ranges of discount rates and prepayment rates used to arrive at the estimated fair values of the Company’s loans receivable:
| September 30, 2024 |  | December 31, 2023
| Discount Rate |  | Prepayment Rate |  | Discount Rate |  | Prepayment Rate
SBA 7(a) loans receivable, subject to credit risk | 7.83% - 11.00% |  | 4.88% - 17.50% |  | 7.83% - 11.00% |  | 4.88% - 17.50%
SBA 7(a) loans receivable, subject to loan-backed notes | 10.00% - 11.00% |  | 4.88% - 17.50% |  | 10.00% - 11.00% |  | 4.88% - 17.50%
SBA 7(a) loans receivable, subject to secured borrowings | 10.00% - 10.50% |  | 5.00% - 17.50% |  | 10.00% - 10.50% |  | 5.00% - 17.50%
Schedule of Fair Values of Financial Instrument Not Recorded at Fair Value on a Recurring Basis | The estimated fair values of those financial instruments which are not recorded at fair value on a recurring basis on the Company’s consolidated balance sheets are as follows (dollar amounts in thousands):
|  | September 30, 2024 |  | December 31, 2023 |  |
|  | Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value |  | Level
Assets: |  |  |  |  |  |  |  |  |  |
SBA 7(a) loans receivable, subject to credit risk |  | $ | 15,435 |  |  | $ | 15,400 |  |  | $ | 10,539 |  |  | $ | 10,482 |  |  | 3 |
SBA 7(a) loans receivable, subject to loan-backed notes |  | $ | 36,913 |  |  | $ | 39,815 |  |  | $ | 43,263 |  |  | $ | 46,701 |  |  | 3 |
SBA 7(a) loans receivable, subject to secured borrowings |  | $ | 1,832 |  |  | $ | 1,832 |  |  | $ | 3,105 |  |  | $ | 3,105 |  |  | 3 |
SBA 7(a) loans receivable, held for sale |  | $ | 1,562 |  |  | $ | 1,699 |  |  | $ | 98 |  |  | $ | 82 |  |  | 3 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Mortgages payable (1) |  | $ | 163,700 |  |  | $ | 160,545 |  |  | $ | 163,700 |  |  | $ | 158,529 |  |  | 3 |
Junior subordinated notes (1) |  | $ | 27,070 |  |  | $ | 24,839 |  |  | $ | 27,070 |  |  | $ | 24,667 |  |  | 3 |
______________________ (1)The carrying amounts for the mortgages payable and junior subordinated notes represents the principal outstanding amounts, excluding deferred debt issuance costs and discounts.

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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