Notes Receivable

9 Months Ended

Sep. 30, 2014

Notes Receivable

Notes Receivable

3.Notes Receivable

Notes receivable consists of various loans and line of credit agreements with certain operators. During the nine months ended September 30, 2014, we received $112,000 and funded $664,000 in principal under these notes. In the comparable 2013 period, we received $2,716,000 in principal payments which included $2,372,000 for the early repayment of an 8.5% term loan. Also, during the nine months ended September 30, 2013, we funded $795,000 under these notes.

At September 30, 2014, we had nine loans and line of credit agreements with commitments totaling $2,963,000. As of September 30, 2014, we funded $1,147,000 under these commitments and we have a remaining commitment of $1,816,000. The weighted average interest rate of these loans is 12.0%.