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LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES (Tables)
 3 Months Ended
Jun. 30, 2023
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable
The following is a summary of gross loans receivable by Customer Tenure as of:
Customer TenureJune 30, 2023March 31, 2023
0 to 5 months$77,832,233 $81,803,668 
6 to 17 months115,061,651 133,650,188 
18 to 35 months149,142,504 135,396,187 
36 to 59 months240,921,979 244,414,255 
60+ months813,633,836 792,189,216 
Tax advance loans1,373,718 2,562,054 
Total gross loans$1,397,965,921 $1,390,015,568 
Assessment of the Credit Quality The following table provides a breakdown of the Company’s gross loans receivable by current payment performance on a recency basis and year of origination at June 30, 2023:
Term Loans By Origination
LoansUp to
1
Year Ago		Between
1 and 2
Years Ago		Between
2 and 3
Years Ago		Between
3 and 4
Years Ago		Between
4 and 5
Years Ago		More than
5
Years Ago		Total
Current$1,192,066,728 $77,308,971 $3,044,992 $120,623 $33,744 $8,848 $1,272,583,906 
30 - 60 days past due40,945,038 6,398,969 305,901 21,491 9,068 857 47,681,324 
61 - 90 days past due24,455,047 4,170,062 166,843 34,662 6,921 — 28,833,535 
91 or more days past due38,396,407 8,793,831 285,866 9,021 8,313 — 47,493,438 
Total$1,295,863,220 $96,671,833 $3,803,602 $185,797 $58,046 $9,705 $1,396,592,203 
Term Loans By Origination
Tax advance loansUp to
1
Year Ago		Between
1 and 2
Years Ago		Between
2 and 3
Years Ago		Between
3 and 4
Years Ago		Between
4 and 5
Years Ago		More than
5
Years Ago		Total
Current$8,436 $2,475 $— $— $— $— $10,911 
30 - 60 days past due92,644 406 — — — — 93,050 
61 - 90 days past due150,173 376 — — — — 150,549 
91 or more days past due1,118,587 621 — — — — 1,119,208 
Total$1,369,840 $3,878 $— $— $— $— $1,373,718 
Total gross loans$1,397,965,921 

The following table provides a breakdown of the Company’s gross loans receivable by current payment performance on a recency basis and year of origination at March 31, 2023:
Term Loans By Origination
LoansUp to
1
Year Ago		Between
1 and 2
Years Ago		Between
2 and 3
Years Ago		Between
3 and 4
Years Ago		Between
4 and 5
Years Ago		More than
5
Years Ago		Total
Current$1,200,504,088 $62,076,656 $1,998,218 $148,662 $23,046 $6,863 $1,264,757,533 
30 - 60 days past due40,791,746 4,689,867 160,956 42,700 8,504 2,988 45,696,761 
61 - 90 days past due26,319,250 2,572,733 92,088 40,281 884 — 29,025,236 
91 or more days past due41,832,821 5,944,645 160,361 29,494 4,430 2,233 47,973,984 
Total$1,309,447,905 $75,283,901 $2,411,623 $261,137 $36,864 $12,084 $1,387,453,514 
Term Loans By Origination
Tax advance loansUp to
1
Year Ago		Between
1 and 2
Years Ago		Between
2 and 3
Years Ago		Between
3 and 4
Years Ago		Between
4 and 5
Years Ago		More than
5
Years Ago		Total
Current$1,932,607 $3,524 $— $— $— $— $1,936,131 
30 - 60 days past due609,844 736 — — — — 610,580 
61 - 90 days past due— 4,845 — — — — 4,845 
91 or more days past due409 10,089 — — — — 10,498 
Total$2,542,860 $19,194 $— $— $— $— $2,562,054 
Total gross loans$1,390,015,568 

The following table provides a breakdown of the Company’s gross loans receivable by current payment performance on a contractual basis and year of origination at June 30, 2023:
Term Loans By Origination
LoansUp to
1
Year Ago		Between
1 and 2
Years Ago		Between
2 and 3
Years Ago		Between
3 and 4
Years Ago		Between
4 and 5
Years Ago		More than
5
Years Ago		Total
Current$1,171,894,227 $67,248,005 $2,360,641 $41,757 $14,047 $3,465 $1,241,562,142 
30 - 60 days past due45,623,659 5,538,291 133,436 6,006 — — 51,301,392 
61 - 90 days past due29,268,423 4,820,038 126,494 5,572 — — 34,220,527 
91 or more days past due49,076,912 19,065,498 1,183,032 132,462 43,999 6,239 69,508,142 
Total$1,295,863,221 $96,671,832 $3,803,603 $185,797 $58,046 $9,704 $1,396,592,203 
Term Loans By Origination
Tax advance loansUp to
1
Year Ago		Between
1 and 2
Years Ago		Between
2 and 3
Years Ago		Between
3 and 4
Years Ago		Between
4 and 5
Years Ago		More than
5
Years Ago		Total
Current$— $— $— $— $— $— $— 
30 - 60 days past due87,950 — — — — — 87,950 
61 - 90 days past due164,821 — — — — — 164,821 
91 or more days past due1,117,069 3,878 — — — — 1,120,947 
Total$1,369,840 $3,878 $— $— $— $— $1,373,718 
Total gross loans$1,397,965,921 

The following table provides a breakdown of the Company’s gross loans receivable by current payment performance on a contractual basis and year of origination at March 31, 2023:
Term Loans By Origination
LoansUp to
1
Year Ago		Between
1 and 2
Years Ago		Between
2 and 3
Years Ago		Between
3 and 4
Years Ago		Between
4 and 5
Years Ago		More than
5
Years Ago		Total
Current$1,174,237,761 $53,652,011 $1,554,144 $64,233 $5,142 $1,491 $1,229,514,782 
30 - 60 days past due47,346,331 3,661,493 77,857 6,714 — — 51,092,395 
61 - 90 days past due33,012,804 3,030,052 44,129 7,643 — — 36,094,628 
91 or more days past due54,851,010 14,940,345 735,493 182,547 31,721 10,593 70,751,709 
Total$1,309,447,906 $75,283,901 $2,411,623 $261,137 $36,863 $12,084 $1,387,453,514 
Term Loans By Origination
Tax advance loansUp to
1
Year Ago		Between
1 and 2
Years Ago		Between
2 and 3
Years Ago		Between
3 and 4
Years Ago		Between
4 and 5
Years Ago		More than
5
Years Ago		Total
Current$1,932,607 $— $— $— $— $— $1,932,607 
30 - 60 days past due609,844 — — — — — 609,844 
61 - 90 days past due— — — — — — — 
91 or more days past due409 19,194 — — — — 19,603 
Total$2,542,860 $19,194 $— $— $— $— $2,562,054 
Total gross loans$1,390,015,568 

The following table provides a breakdown of the Company’s gross charge-offs by year of origination at June 30, 2023:

Gross Charge-offs by Origination
Origination by Calendar YearLoansTax advance loansTotal
2018 and prior$5,007 $— $5,007 
201912,727 — 12,727 
2020104,287 — 104,287 
20212,943,366 — 2,943,366 
202247,396,816 4,627 47,401,443 
2023253,212 3,000 256,212 
Total$50,715,415 $7,627 $50,723,042 
The following table provides a breakdown of the Company’s gross charge-offs by year of origination at June 30, 2022:
Gross Charge-offs by Origination
Origination by Calendar YearLoansTax advance loansTotal
2017 and prior$5,663 $— $5,663 
201813,855 — 13,855 
2019138,663 — 138,663 
20201,509,992 — 1,509,992 
202165,867,200 14,163 65,881,363 
20221,649,742 67,104 1,716,846 
Total$69,185,115 $81,267 $69,266,382 
Summary of Changes in the Allowance For Loan Losses
The following table presents a roll forward of the allowance for credit losses for the three months ended June 30, 2023 and 2022:
Three months ended June 30,
20232022
Beginning balance$125,552,733 $134,242,862 
Provision for credit losses46,602,012 85,822,267 
Charge-offs(50,723,042)(69,266,382)
Recoveries17,911,285 4,851,932 
Net charge-offs(42,811,757)(64,414,450)
Ending Balance$129,342,988 $155,650,679 
Summary of the Past Due Receivables
The following table is an aging analysis on a recency basis at amortized cost of the Company’s gross loans receivable at June 30, 2023:
Days Past Due - Recency Basis
Customer TenureCurrent30 - 6061 - 90Over 90Total Past DueTotal Loans
0 to 5 months$61,192,949 $5,159,304 $3,946,507 $7,533,473 $16,639,284 $77,832,233 
6 to 17 months97,270,965 6,044,736 4,167,086 7,578,864 17,790,686 115,061,651 
18 to 35 months133,608,163 6,116,113 3,508,885 5,909,343 15,534,341 149,142,504 
36 to 59 months219,635,566 8,468,545 4,959,167 7,858,701 21,286,413 240,921,979 
60+ months760,876,263 21,892,627 12,251,890 18,613,056 52,757,573 813,633,836 
Tax advance loans10,912 93,049 150,549 1,119,208 1,362,806 1,373,718 
Total gross loans1,272,594,818 47,774,374 28,984,084 48,612,645 125,371,103 1,397,965,921 
Unearned interest, insurance and fees(345,890,705)(12,985,054)(7,877,861)(13,212,895)(34,075,810)(379,966,515)
Total net loans$926,704,113 $34,789,320 $21,106,223 $35,399,750 $91,295,293 $1,017,999,406 
Percentage of period-end gross loans receivable3.4%2.1%3.5%9.0%

The following table is an aging analysis on a recency basis at amortized cost of the Company’s gross loans receivable at March 31, 2023:
Days Past Due - Recency Basis
Customer TenureCurrent30 - 6061 - 90Over 90Total Past DueTotal Loans
0 to 5 months$64,615,314 $5,451,276 $4,407,751 $7,329,327 $17,188,354 $81,803,668 
6 to 17 months113,946,833 6,527,355 4,655,441 8,520,559 19,703,355 133,650,188 
18 to 35 months120,125,821 5,336,994 3,727,331 6,206,041 15,270,366 135,396,187 
36 to 59 months223,734,062 8,070,011 4,839,000 7,771,182 20,680,193 244,414,255 
60+ months742,335,503 20,311,125 11,395,713 18,146,875 49,853,713 792,189,216 
Tax advance loans1,936,131 610,580 4,845 10,498 625,923 2,562,054 
Total gross loans1,266,693,664 46,307,341 29,030,081 47,984,482 123,321,904 1,390,015,568 
Unearned interest, insurance and fees(343,255,876)(12,548,627)(7,866,737)(13,003,109)(33,418,473)(376,674,349)
Total net loans$923,437,788 $33,758,714 $21,163,344 $34,981,373 $89,903,431 $1,013,341,219 
Percentage of period-end gross loans receivable3.3 %2.1 %3.5 %8.9 %

The following table is an aging analysis on a contractual basis at amortized cost of the Company’s gross loans receivable at June 30, 2023:
Days Past Due - Contractual Basis
Customer TenureCurrent30 - 6061 - 90Over 90Total Past DueTotal Loans
0 to 5 months$59,258,540 $5,113,469 $4,075,349 $9,384,875 $18,573,693 $77,832,233 
6 to 17 months93,865,123 6,127,267 4,571,045 10,498,216 21,196,528 115,061,651 
18 to 35 months129,848,141 6,471,807 4,158,292 8,664,264 19,294,363 149,142,504 
36 to 59 months214,011,449 9,223,244 5,966,254 11,721,032 26,910,530 240,921,979 
60+ months744,578,889 24,365,605 15,449,587 29,239,755 69,054,947 813,633,836 
Tax advance loans— 87,950 164,821 1,120,947 1,373,718 1,373,718 
Total gross loans1,241,562,142 51,389,342 34,385,348 70,629,089 156,403,779 1,397,965,921 
Unearned interest, insurance and fees(337,456,038)(13,967,600)(9,345,922)(19,196,955)(42,510,477)(379,966,515)
Total net loans$904,106,104 $37,421,742 $25,039,426 $51,432,134 $113,893,302 $1,017,999,406 
Percentage of period-end gross loans receivable3.7%2.5%5.1%11.3 %

The following table is an aging analysis on a contractual basis at amortized cost of the Company’s gross loans receivable at March 31, 2023:
Days Past Due - Contractual Basis
Customer TenureCurrent30 - 6061 - 90Over 90Total Past DueTotal Loans
0 to 5 months$61,850,142 $5,320,659 $4,864,498 $9,768,369 $19,953,526 $81,803,668 
6 to 17 months109,694,389 6,892,610 5,613,468 11,449,721 23,955,799 133,650,188 
18 to 35 months115,711,782 5,721,694 4,499,010 9,463,701 19,684,405 135,396,187 
36 to 59 months217,821,239 8,991,995 6,078,488 11,522,533 26,593,016 244,414,255 
60+ months724,437,230 24,165,437 15,039,164 28,547,385 67,751,986 792,189,216 
Tax advance loans1,932,607 609,844 — 19,603 629,447 2,562,054 
Total gross loans1,231,447,389 51,702,239 36,094,628 70,771,312 158,568,179 1,390,015,568 
Unearned interest, insurance and fees(333,704,639)(14,010,568)(9,781,128)(19,178,014)(42,969,710)(376,674,349)
Total net loans$897,742,750 $37,691,671 $26,313,500 $51,593,298 $115,598,469 $1,013,341,219 
Percentage of period-end gross loans receivable3.7 %2.6 %5.1 %11.4 %
Financing Receivable, Nonaccrual
The following table presents the amortized cost basis of loans on nonaccrual status as of the beginning of the reporting period and the end of the reporting period, as well as interest income recognized on nonaccrual loans for the three months ended June 30, 2023 and 2022:
Nonaccrual Loans Receivable
Customer TenureAs of June 30, 2023As of March 31, 2023
Interest Income
Recognized for the three months ended June 30, 2023
Interest Income
Recognized for the three months ended June 30, 2022
0 to 5 months$14,146,363 $15,781,494 $326,773 $503,963 
6 to 17 months15,831,823 18,288,714 476,870 378,450 
18 to 35 months13,705,732 15,551,806 464,668 628,781 
36 to 59 months18,983,213 19,745,397 609,507 503,362 
60+ months48,292,974 49,285,814 1,737,871 1,658,281 
Tax advance loans1,299,860 19,603 — — 
Unearned interest, insurance and fees(30,512,209)(32,158,640)— — 
Total$81,747,756 $86,514,188 $3,615,689 $3,672,837