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Commercial Loans Receivable
 3 Months Ended
Jul. 03, 2021
Receivables [Abstract]  
Commercial Loans Receivable Commercial Loans Receivable
The commercial loans receivable balance consists of direct financing arrangements for the home product needs of our independent distributors, community owners and developers and amounts loaned by us under participation financing programs.
Commercial loans receivable, net consisted of the following (in thousands):
July 3,
2021		April 3,
2021
Loans receivable$45,620 $45,377 
Allowance for loan losses (785)(816)
Deferred financing fees, net(247)(247)
44,588 44,314 
Less current portion of commercial loans receivable (including from affiliates), net(18,613)(19,232)
$25,975 $25,082 
The commercial loans receivable balance had the following characteristics:
July 3,
2021		April 3,
2021
Weighted average contractual interest rate6.0 %6.4 %
Weighted average months to maturity1011
The following table represents changes in the estimated allowance for loan losses, including related additions and deductions to the allowance for loan losses (in thousands):
Three Months Ended
July 3,
2021		June 27,
2020
Balance at beginning of period
$816 $393 
Impact of adoption of ASU 2016-13— 435 
Change in estimated loan losses, net
(31)— 
Balance at end of period
$785 $828 
As of July 3, 2021 and April 3, 2021, there were no commercial loans considered watch list or nonperforming. The following table disaggregates our commercial loans receivable by fiscal year of origination (in thousands):
July 3, 2021
20222021202020192018PriorTotal
Performing
$15,150 $19,119 $5,973 $2,689 $1,743 $946 $45,620 
April 3, 2021
20212020201920182017PriorTotal
Performing
$30,627 $8,677 $3,206 $1,864 $1,003 $— $45,377 
At July 3, 2021, there were no commercial loans 90 days or more past due that were still accruing interest and we were not aware of any potential problem loans that would have a material effect on the commercial loans receivable balance.
As of July 3, 2021, 14% of our outstanding commercial loans receivable principal balance was concentrated in Arizona and 13% was concentrated in California. As of April 3, 2021, 13% of our outstanding commercial loans receivable principal balance was concentrated in Arizona. No other state had concentrations in excess of 10% of the principal balance of the consumer loans receivable as of July 3, 2021 or April 3, 2021.
We had concentrations with one independent third-party and its affiliates that equaled 18% of the net commercial loans receivable principal balance outstanding, all of which was secured, as of July 3, 2021 and April 3, 2021