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Notes Receivable, Net
 12 Months Ended
Dec. 31, 2022
Receivables [Abstract]  
Notes Receivable, net

Note 4 – Notes Receivable, net

The Company’s notes receivable balance consists its investments in loans to buyers of charged-off and nonperforming receivable portfolios, which resulted in a total balance of approximately $8.8 million, net of unamortized deferred fees and costs on originated loans. The activity during 2022 includes the additional investment in notes receivable of approximately $8.4 million, principal payments made by borrowers of approximately $3.4 million, and adjustments to the deferred fees and costs balance of approximately $0.4 million.

The table below shows the Company’s lending activity:

 

 

 

2022

 

 

2021

 

Notes receivable, beginning of year

 

$

4,172

 

 

$

2,079

 

Investment in notes receivable

 

 

8,435

 

 

 

8,039

 

Transfer of notes

 

 

—

 

 

 

(1,961

)

Principal repayments

 

 

(3,446

)

 

 

(3,985

)

Notes receivable, end of year

 

 

9,161

 

 

 

4,172

 

Deferred financing fees and costs, net

 

 

(411

)

 

 

(134

)

Notes receivable, net, end of year

 

$

8,750

 

 

$

4,038

 

As of December 31, 2022 and 2021, the Company has not recorded an allowance for credit losses related to notes receivable outstanding.