FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurement Inputs

The following summarizes the ranges of discount rates and prepayment rates used to arrive at the estimated fair values of the Company’s loans receivable:

	Year Ended December 31,
	2022		2021
	Discount Rate	Prepayment Rate	Discount Rate	Prepayment Rate
SBA 7(a) loans receivable, subject to credit risk	11.00% - 11.25%	5.00% - 17.00%	6.25% - 8.25%	5.00% - 17.50%
SBA 7(a) loans receivable, subject to loan-backed notes	N/A	N/A	5.75% - 7.75%	5.00% - 17.50%
SBA 7(a) loans receivable, subject to secured borrowings	11.00% - 11.25%	5.00% - 17.00%	7.00% - 7.75%	5.00% - 17.50%
SBA 7(a) loans receivable, paycheck protection program	N/A	N/A	1.00%	N/A

Schedule of 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 the Company’s consolidated balance sheets are as follows:

	December 31, 2022				December 31, 2021
	Carrying		Estimated		Carrying		Estimated
	Amount		Fair Value		Amount		Fair Value		Level
	(in thousands)
Assets:
SBA 7(a) loans receivable, paycheck protection program	$	—	$	—	$	4,903	$	5,050	3
SBA 7(a) loans receivable, subject to loan-backed notes	$	—	$	—	$	18,077	$	19,635	3
SBA 7(a) loans receivable, subject to credit risk	$	56,237	$	58,432	$	42,416	$	44,399	3
SBA 7(a) loans receivable, subject to secured borrowings	$	6,158	$	6,237	$	6,891	$	6,976	3
SBA 7(a) loans receivable, held for sale	$	152	$	126	$	1,256	$	1,355	3
Liabilities:
Mortgage payable (1)	$	97,100	$	90,002	$	97,100	$	100,838	2, 3
Junior subordinated notes (1)	$	27,070	$	25,067	$	27,070	$	24,378	3

(1)The carrying amounts for the mortgage payable and junior subordinated notes represents the principal outstanding amounts, excluding deferred debt issuance costs and discounts.