FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022
	Discount Rate	Prepayment Rate	Discount Rate	Prepayment Rate
SBA 7(a) loans receivable, subject to credit risk	7.83% - 11.00%	4.88% - 17.50%	11.00% - 11.25%	5.00% - 17.00%
SBA 7(a) loans receivable, subject to loan-backed notes	10.00% - 11.00%	4.88% - 17.50%	N/A	N/A
SBA 7(a) loans receivable, subject to secured borrowings	10.00% - 10.50%	5.00% - 17.50%	11.00% - 11.25%	5.00% - 17.00%

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, 2023				December 31, 2022
	Carrying		Estimated		Carrying		Estimated
	Amount		Fair Value		Amount		Fair Value		Level
	(in thousands)
Assets:
SBA 7(a) loans receivable, subject to loan-backed notes	$	43,263	$	46,701	$	—	$	—	3
SBA 7(a) loans receivable, subject to credit risk	$	10,539	$	10,482	$	56,237	$	58,432	3
SBA 7(a) loans receivable, subject to secured borrowings	$	3,105	$	3,105	$	6,158	$	6,237	3
SBA 7(a) loans receivable, held for sale	$	98	$	82	$	152	$	126	3
Liabilities:
Mortgages payable (1)	$	163,700	$	158,529	$	97,100	$	90,002	2, 3
Junior subordinated notes (1)	$	27,070	$	24,667	$	27,070	$	25,067	3

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