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Commercial Loans Receivable
 9 Months Ended
Dec. 31, 2022
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 operators and residential developers.
Commercial loans receivable (including from affiliates), net consisted of the following (in thousands):
December 31,
2022		April 2,
2022
Loans receivable$79,345 $69,693 
Allowance for loan losses (1,255)(1,011)
Deferred financing fees, net(117)(116)
77,973 68,566 
Less current portion(34,197)(32,644)
$43,776 $35,922 
The commercial loans receivable balance had the following characteristics:
December 31,
2022		April 2,
2022
Weighted average contractual interest rate6.7 %6.4 %
Weighted average months outstanding99
The following table represents changes in the estimated allowance for loan losses (in thousands):
Three Months EndedNine Months Ended
December 31,
2022		January 1,
2022		December 31,
2022		January 1,
2022
Balance at beginning of period
$1,123 $826 $1,011 $816 
Change in estimated loan losses, net
132 304 244 314 
Balance at end of period
$1,255 $1,130 $1,255 $1,130 
Loans with indicators of potential performance problems are placed on watch list status and are subject to additional monitoring and scrutiny. Nonperforming status includes loans accounted for on a non-accrual basis and accruing loans with principal payments 90 days or more past due. As of December 31, 2022 and April 2, 2022, there were no commercial loans considered watch list or nonperforming. The following table disaggregates the principal value of our commercial loans receivable by fiscal year of origination (in thousands):
December 31, 2022
20232022202120202019PriorTotal
Performing
$52,498 $18,324 $4,770 $2,321 $682 $750 $79,345 
April 2, 2022
20222021202020192018PriorTotal
Performing
$52,592 $10,181 $4,031 $1,391 $1,498 $— $69,693 
As of December 31, 2022, 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 December 31, 2022 and April 2, 2022, we had concentrations of our outstanding principal balance of the commercial loans receivable balance in New York of 22% and 25%, respectively. No other state had concentrations in excess of 10% of the outstanding principal balance of the commercial loans receivable as of December 31, 2022 or April 2, 2022.
As of December 31, 2022 and April 2, 2022, one independent third-party and its affiliates comprised 12% and 14%, respectively, of the net commercial loans receivable principal balance outstanding, all of which was secured