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Commercial Loans Receivables and Allowance for Loan Loss (Tables)
 12 Months Ended
Mar. 30, 2019
Receivables [Abstract]  
Commercial Loans Receivables
Commercial loans receivable, net, consist of the following by class of financing notes receivable (in thousands):
 
March 30,
2019
 
March 31,
2018
Direct loans receivable
$
42,899

 
$
16,368

Participation loans receivable
495

 
275

Allowance for loan losses
(180
)
 
(42
)
Deferred financing fees, net
(208
)
 
—

 
$
43,006

 
$
16,601
Commercial Loans Receivable Characteristics (Weighted averages)
The commercial loans receivable balance has the following characteristics:
 
March 30,
2019
 
March 31,
2018
Weighted average contractual interest rate
5.7
%
 
4.6
%
Weighted average months to maturity
7

 
6

The Company evaluates the potential for loss from its participation loan programs based on the independent lender's overall financial stability, as well as historical experience, and has determined that an applicable allowance for loan losses was not needed at either March 30, 2019 or March 31, 2018.
Changes in the Allowance for Loan Losses on Commercial Loans Receivables
The following table represents changes in the estimated allowance for loan losses, including related additions and deductions to the allowance for loan losses applicable to the direct programs (in thousands):
 
Year Ended
 
March 30,
2019
 
March 31,
2018
Balance at beginning of period
$
42

 
$
210

Provision for commercial loan credit losses
138

 
(168
)
Loans charged off, net of recoveries
—

 
—

Balance at end of period
$
180

 
$
42
Allowance for Loan Losses andCommercial Loans Receivables By Class Individually and Collectively Evaluated for Impairment
The following table disaggregates commercial loans receivable and the estimated allowance for loan losses for each class of financing receivable by evaluation methodology (in thousands):
 
Direct Commercial Loans
 
Participation Commercial Loans
 
March 30,
2019
 
March 31,
2018
 
March 30,
2019
 
March 31,
2018
Commercial loans receivable:
 
 
 
 
 
 
 
Collectively evaluated for impairment
$
18,018

 
$
4,193

 
$
—

 
$
—

Individually evaluated for impairment
24,881

 
12,175

 
495

 
275

 
$
42,899

 
$
16,368

 
$
495

 
$
275

Allowance for loan losses:
 
 
 
 
 
 
 
Collectively evaluated for impairment
$
(180
)
 
$
(42
)
 
$
—

 
$
—

Individually evaluated for impairment
—

 
—

 
—

 
—

 
$
(180
)
 
$
(42
)
 
$
—

 
$
—
Commercial Loans Receivables by Class and Internal Credit Quality Indicator
The following table disaggregates the Company's commercial loans receivable by class and credit quality indicator (in thousands):
 
Direct Commercial Loans
 
Participation Commercial Loans
 
March 30,
2019
 
March 31,
2018
 
March 30,
2019
 
March 31,
2018
Risk profile based on payment activity:
 
 
 
 
 
 
 
Performing
$
42,899

 
$
16,368

 
$
495

 
$
275

Watch list
—

 
—

 
—

 
—

Nonperforming
—

 
—

 
—

 
—

 
$
42,899

 
$
16,368

 
$
495

 
$
275
Geographic Concentration of Commercial Loans Receivables in Key States
The Company has concentrations of commercial loans receivable related to factory-built homes located in the following states, measured as a percentage of commercial loans receivables principal balance outstanding:
 
March 30,
2019
 
March 31,
2018
California
21.1
%
 
14.4
%
Arizona
16.3
%
 
16.7
%
Oregon
10.4
%
 
14.7
%