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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Fair Values of Financial Instrument Not Recorded at Fair Value on a Recurring Basis
The estimated fair values of those financial instruments which are not recorded at fair value on a recurring basis on our consolidated balance sheets are as follows:
 June 30, 2020December 31, 2019 
 Carrying
Amount
Estimated
Fair Value
Carrying
Amount
Estimated
Fair Value
Level
 (in thousands) 
Assets:     
SBA 7(a) loans receivable, subject to credit risk
$27,820  $29,059  $27,802  $29,794   
SBA 7(a) loans receivable, subject to loan-backed notes
24,463  26,889  27,595  30,076   
SBA 7(a) loans receivable, paycheck protection program
14,894  15,466  —  —   
SBA 7(a) loans receivable, subject to secured borrowings
9,978  10,073  12,682  12,780   
Liabilities:     
Mortgage payable
96,939  98,554  96,926  99,764   
Junior subordinated notes
25,343  24,177  25,299  24,406