v3.26.1
Debt Certificates Payable (Tables)
12 Months Ended
Dec. 31, 2025
Debt Certificates Payable  
Schedule of debt certificates payable

The table below provides information on the Company’s debt certificates payable (dollars in thousands):

As of

As of

December 31, 2025

December 31, 2024

SEC Registered Public Offerings

Offering Type

Amount

Weighted
Average
Interest
Rate

Amount

Weighted
Average
Interest
Rate

 

Class 1A Offering

Unsecured

$

%

$

5,979

3.91

%

2021 Class A Offering

Unsecured

21,463

4.68

%

33,336

4.75

%

2024 Class A Offering

Unsecured

45,591

4.77

%

31,247

4.95

%

Public offering total

$

67,054

4.74

%

$

70,562

4.77

%

Private Offerings

Subordinated Notes

Unsecured

$

27,456

5.24

%

$

24,599

5.15

%

Private offering total

$

27,456

5.24

%

$

24,599

5.15

%

Total debt certificates payable

$

94,510

4.89

%

$

95,161

4.87

%

Notes Payable  
Debt Certificates Payable  
Schedule of future principal contractual payments of term debt

2026

$

46,423

2027

18,767

2028

10,765

2029

9,808

2030

8,747

94,510

Less: debt issuance costs

72

Debt certificates payable, net of debt issuance costs

$

94,438