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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
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, 2024December 31, 2023
Discount RatePrepayment RateDiscount RatePrepayment 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, 2024December 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.