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FAIR VALUE (Tables)

6 Months Ended

Sep. 30, 2021

Fair Value Measurements, Recurring and Nonrecurring

The carrying amounts and estimated fair values of financial assets and liabilities disclosed but not carried at fair value and their level within the fair value hierarchy are summarized below.


		September 30, 2021				March 31, 2021
	Input Level	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
ASSETS
Cash and cash equivalents	1	$	16,886,215	$	16,886,215	$	15,746,454	$	15,746,454
Loans receivable, net	3	910,149,795		910,149,795		733,659,389		733,659,389

LIABILITIES
Senior unsecured notes payable	2	300,000,000		296,100,000		—		—
Senior notes payable	3	275,705,753		275,705,753		405,007,500		405,007,500

Fair Value Measurements, Nonrecurring

The carrying amounts and estimated fair values of amounts the Company measures at fair value on a non-recurring basis, which are limited to the Company's assets held for sale, are summarized below.


		September 30, 2021				March 31, 2021
	Input Level	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
ASSETS
Assets held for sale	2	$	—	$	—	$	1,143,528	$	1,143,528

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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