MoneyLion Inc. Post-effective amendment to a registration statement that is not immediately effective upon filing

Post-effective amendment to a registration statement that is not immediately effective upon filing

Consumer Receivables (Tables)

Consumer Receivables (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Receivables [Abstract]

Schedule of receivables

		March 31, 2022			December 31, 2021
Unsecured personal loan receivables		$	—		$	1
Secured personal loan receivables			71,610			77,491
Loan receivables			71,610			77,492
Instacash receivables			66,951			62,783
Finance receivables			138,561			140,275
Fees receivable			9,567			8,366
Membership receivables			3,408			3,099
Deferred loan origination costs			992			929
Accrued interest receivable			1,106			1,072
Receivables, before allowance for credit losses		$	153,634		$	153,741

		December 31, 2021			December 31, 2020
Unsecured personal loan receivables		$	1		$	66
Secured personal loan receivables			77,491			43,804
Loan receivables			77,492			43,870
Instacash receivables			62,783			18,888
Finance receivables			140,275			62,758
Fees receivable			8,366			2,913
Membership receivables			3,099			1,885
Deferred loan origination costs			929			615
Accrued interest receivable			1,072			623
Receivables, before allowance for loan losses		$	153,741		$	68,794

Changes in the allowance for losses on consumer receivables

		Three Months Ended March 31,
		2022				2021
Beginning balance		$	22,323			$	9,127
Provision for credit losses on receivables			23,044				5,708
Receivables charged off			(37,284	)			(14,436	)
Recoveries			14,208				9,828
Ending balance		$	22,291			$	10,227

		Three Months Ended March 31,
		2022				2021
Beginning balance		$	21,625			$	9,127
Provision for credit losses on receivables			19,502				4,859
Finance receivables charged off			(32,958	)			(12,962	)
Recoveries			13,269				9,203
Ending balance		$	21,438			$	10,227

		Three Months Ended March 31,
		2022				2021
Beginning balance		$	420			$	—
Provision for credit losses on receivables			2,001				615
Fees receivable charged off			(2,708	)			(948	)
Recoveries			779				333
Ending balance		$	492			$	—

		Three Months Ended March 31,
		2022				2021
Beginning balance		$	278			$	—
Provision for credit losses on receivables			1,541				234
Membership receivables charged off			(1,618	)			(526	)
Recoveries			160				292
Ending balance		$	361			$	—

		Twelve Months Ended December 31,
		2021				2020
Beginning balance		$	9,127			$	6,613
Provision for loss on receivables			60,749				21,294
Receivables charged off			(75,557	)			(39,004	)
Recoveries			28,004				20,224
Ending balance		$	22,323			$	9,127

		Twelve Months Ended December 31,
		2021				2020
Beginning balance		$	9,127			$	6,613
Provision for loss on receivables			51,975				18,082
Finance receivables charged off			(65,711	)			(33,719	)
Recoveries			26,234				18,151
Ending balance		$	21,625			$	9,127

		Twelve Months Ended December 31,
		2021				2020
Beginning balance		$	—			$	—
Provision for loss on receivables			3,170				1,856
Membership receivables charged off			(3,446	)			(3,620	)
Recoveries			554				1,764
Ending balance		$	278			$	—

		Twelve Months Ended December 31,
		2021				2020
Beginning balance		$	—			$	—
Provision for loss on receivables			5,604				1,356
Fees receivable charged off			(6,400	)			(1,665	)
Recoveries			1,216				309
Ending balance		$	420			$	—

Schedule of assessment of the credit quality of finance receivables

		March 31, 2022						December 31, 2021
		Amount			Percent			Amount			Percent
Current		$	60,642		84.7	%		$	66,514		85.8	%

Delinquency:
31 to 60 days			5,887		8.2	%			6,577		8.5	%
61 to 90 days			5,081		7.1	%			4,401		5.7	%
Total delinquency			10,968		15.3	%			10,978		14.2	%
Loan receivables before allowance for loan losses		$	71,610		100.0	%		$	77,492		100.0	%

		March 31, 2022						December 31, 2021
		Amount			Percent			Amount			Percent
Current		$	60,364		90.2	%		$	55,963		89.1	%

Delinquency:
31 to 60 days			6,587		9.8	%			6,820		10.9	%
61 to 90 days			—		0.0	%			—		0.0	%
Total delinquency			6,587		9.8	%			6,820		10.9	%
Instacash receivables before allowance for loan losses		$	66,951		100.0	%		$	62,783		100.0	%

		March 31, 2022						December 31, 2021
		Amount			Percent			Amount			Percent
Current		$	7,725		80.7	%		$	6,682		79.9	%

Delinquency:
31 to 60 days			1,842		19.3	%			1,684		20.1	%
61 to 90 days			—		0.0	%			—		0.0	%
Total delinquency			1,842		19.3	%			1,684		20.1	%
Fees receivable before allowance for loan losses		$	9,567		100.0	%		$	8,366		100.0	%

		March 31, 2022						December 31, 2021
		Amount			Percent			Amount			Percent
Current		$	2,486		72.9	%		$	2,227		71.8	%

Delinquency:
31 to 60 days			466		13.7	%			514		16.6	%
61 to 90 days			456		13.4	%			358		11.6	%
Total delinquency			922		27.1	%			872		28.2	%
Membership receivables before allowance for loan losses		$	3,408		100.0	%		$	3,099		100.0	%

		December 31, 2021						December 31, 2020
		Amount			Percent			Amount			Percent
Current		$	122,477		87.3	%		$	54,247		86.4	%

Delinquency:
31 to 60 days			13,397		9.6	%			6,148		9.8	%
61 to 90 days			4,401		3.1	%			2,363		3.8	%
Total delinquency			17,798		12.7	%			8,511		13.6	%
Finance receivables before allowance for loan losses		$	140,275		100.0	%		$	62,758		100.0	%

		December 31, 2021						December 31, 2020
		Amount			Percent			Amount			Percent
Current		$	66,514		85.8	%		$	38,133		86.9	%

Delinquency:
31 to 60 days			6,577		8.5	%			3,374		7.7	%
61 to 90 days			4,401		5.7	%			2,363		5.4	%
Total delinquency			10,978		14.2	%			5,737		13.1	%
Loan receivables before allowance for loan losses		$	77,492		100.0	%		$	43,870		100.0	%

		December 31, 2021						December 31, 2020
		Amount			Percent			Amount			Percent
Current		$	55,963		89.1	%		$	16,114		85.3	%

Delinquency:
31 to 60 days			6,820		10.9	%			2,774		14.7	%
61 to 90 days			—		0.0	%			—		0.0	%
Total delinquency			6,820		10.9	%			2,774		14.7	%
Instacash receivables before allowance for loan losses		$	62,783		100.0	%		$	18,888		100.0	%

		December 31, 2021						December 31, 2020
		Amount			Percent			Amount			Percent
Current		$	2,227		71.8	%		$	1,586		84.1	%

Delinquency:
31 to 60 days			514		16.6	%			168		9.0	%
61 to 90 days			358		11.6	%			131		6.9	%
Total delinquency			872		28.2	%			299		15.9	%
Membership receivables before allowance for loan losses		$	3,099		100.0	%		$	1,885		100.0	%

		December 31, 2021						December 31, 2020
		Amount			Percent			Amount			Percent
Current		$	6,682		79.9	%		$	2,435		83.6	%

Delinquency:
31 to 60 days			1,684		20.1	%			478		16.4	%
61 to 90 days			—		0.0	%			—		0.0	%
Total delinquency			1,684		20.1	%			478		16.4	%
Fees receivable before allowance for loan losses		$	8,366		100.0	%		$	2,913		100.0	%