| Schedule of Outstanding Amounts |
|
Schedule
of Outstanding Amounts
| | |
December 31,
2024 | | |
December 31,
2023 | |
| Secured term loans | |
$ | - | | |
$ | 55,215,013 | |
| Unsecured loans and lines of credit | |
| - | | |
| 431,640 | |
| Total loans funded by PCCU | |
$ | - | | |
$ | 55,646,653 | |
|
| Schedule of Indemnity Liability |
|
The indemnity liability activity are as follows:
Schedule
of Indemnity Liability
| | |
2024 | | |
2023 | |
| | |
Year ended December 31, | |
| | |
2024 | | |
2023 | |
| Beginning balance | |
$ | 1,382,408 | | |
$ | 499,465 | |
| Cumulative effect from adoption of CECL | |
| - | | |
| 566,341 | |
| Charge-offs | |
| - | | |
| - | |
| Recoveries | |
| - | | |
| - | |
| (Benefit) expense | |
| (1,382,408 | ) | |
| 316,602 | |
| Ending balance | |
$ | - | | |
$ | 1,382,408 | |
|
| Schedule of Indemnified Loans Risk Rating |
|
The carrying value, excluding the CECL Reserve, of
the Company’s indemnified loans held at carrying value within each risk rating is as follows:
Schedule
of Indemnified Loans Risk Rating
| Risk rating | |
December 31,
2024 | | |
December 31,
2023 | |
| 3 | |
$ | - | | |
$ | 10,100,000 | |
| 4 | |
| - | | |
| 3,431,640 | |
| 5 | |
| - | | |
| 28,115,013 | |
| 6 | |
| - | | |
| 10,900,000 | |
| 7 | |
| - | | |
| 3,100,000 | |
| Grand total | |
$ | - | | |
$ | 55,646,653 | |
|
| Schedule of Provision for Loan Losses |
The
provision for loan losses (benefit) consists of the following activity for the three months ended June 30, 2025 and June 30, 2024:
Schedule
of Provision for Loan Losses
| | |
Commercial
real estate loans | | |
Indemnity
liability | | |
Total | | |
Commercial
real estate loans | | |
Indemnity
liability | | |
Total | |
| | |
Three Months Ended June 30, 2025 | | |
Three Months Ended June 30, 2024 | |
| | |
Commercial real estate loans | | |
Indemnity liability | | |
Total | | |
Commercial real estate loans | | |
Indemnity liability | | |
Total | |
| Credit loss (benefit) | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | (248 | ) | |
$ | (97,000 | ) | |
$ | (97,248 | ) |
The
provision for loan losses (benefit) consists of the following activity for the six months ended June 30, 2025 and June 30, 2024:
| | |
Commercial
real estate loans | | |
Indemnity
liability | | |
Total | | |
Commercial
real estate loans | | |
Indemnity
liability | | |
Total | |
| | |
Six Months Ended June 30, 2025 | | |
Six Months Ended June 30, 2024 | |
| | |
Commercial real estate loans | | |
Indemnity liability | | |
Total | | |
Commercial real estate loans | | |
Indemnity liability | | |
Total | |
| Credit loss (benefit) | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | (1,890 | ) | |
$ | (164,145 | ) | |
$ | (166,035 | ) |
|
The provision for credit losses (benefit) on the statements
of operations consists of the following activity for the years ended December 31, 2024 and December 31, 2023:
Schedule
of Provision for Loan Losses
| |
|
Commercial real estate loans |
|
|
Indemnity liability |
|
|
Total |
|
|
Commercial real estate loans |
|
|
Indemnity liability |
|
|
Total |
|
| |
|
December 31, 2024 |
|
|
December 31, 2023 |
|
| |
|
Commercial real estate loans |
|
|
Indemnity liability |
|
|
Total |
|
|
Commercial real estate loans |
|
|
Indemnity liability |
|
|
Total |
|
| Credit loss (benefit) |
|
$ |
(10,723 |
) |
|
$ |
(1,382,408 |
) |
|
$ |
(1,393,131 |
) |
|
$ |
(25,745 |
) |
|
$ |
316,602 |
|
|
$ |
290,857 |
|
|