SCHEDULE OF NET INCOME FROM THE COMPANY’S REPORTABLE SEGMENT |
Net
income from the Company’s reportable segment is as follows:
SCHEDULE
OF NET INCOME FROM THE COMPANY’S REPORTABLE SEGMENT
| |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| |
(Unaudited) | |
| |
Three Months Ended June 30, | | |
Six Months Ended June 30, | |
| |
2025 | | |
2024 | | |
2025 | | |
2024 | |
Lending revenue: | |
$ | 2,355,236 | | |
$ | 2,443,215 | | |
$ | 4,628,949 | | |
$ | 5,016,293 | |
Less: | |
| | | |
| | | |
| | | |
| | |
Interest expense | |
| 484,013 | | |
| 580,993 | | |
| 913,142 | | |
| 1,249,628 | |
Amortization of deferred financing costs | |
| 22,237 | | |
| 22,237 | | |
| 44,473 | | |
| 44,191 | |
Referral fees | |
| 1,523 | | |
| 500 | | |
| 1,667 | | |
| 1,000 | |
General and administrative expenses | |
| 437,785 | | |
| 434,282 | | |
| 891,355 | | |
| 844,560 | |
Income tax expense | |
| 1,210 | | |
| 650 | | |
| 1,210 | | |
| 650 | |
Other income | |
| (4,500 | ) | |
| (4,500 | ) | |
| (9,000 | ) | |
| (9,000 | ) |
Net income | |
$ | 1,412,968 | | |
$ | 1,409,053 | | |
$ | 2,786,102 | | |
$ | 2,885,264 | |
|