Quarterly report pursuant to Section 13 or 15(d)

Receivables (Tables)

v3.22.0.1
Receivables (Tables)
 9 Months Ended
Sep. 30, 2021
Receivables [Abstract]  
Schedule of receivables
    September 30,     December 31,  
    2021     2020  
Finance receivables   $ 116,028     $ 62,758  
Fees receivable     7,338       2,913  
Membership receivables     3,283       1,885  
Deferred loan origination costs     1,528       615  
Accrued interest receivable     1,104       623  
Receivables, before allowance for loan losses   $ 129,281     $ 68,794  

 
Schedule of finance receivables
    September 30,
2021		     December 31,
2020		  
Loan receivables   $ 69,571     $ 43,870  
Instacash receivables     46,457       18,888  
Finance receivables, before allowance for loan losses   $ 116,028     $ 62,758  

 
Schedule of loans receivables
    September 30,
2021		     December 31,
2020		  
Unsecured personal loan receivables   $
-
     $ 66  
Secured personal loan receivables     69,571       43,804  
Loan receivables   $ 69,571     $ 43,870  

 
Schedule of changes in the allowance for loan losses on receivables
    Three Months Ended September 30,     Nine Months Ended September 30,  
    2021     2020     2021     2020  
Beginning balance   $ 14,701     $ 5,259     $ 9,127     $ 6,613  
Provision for loss on receivables     15,238       10,456       36,644       14,587  
Receivables charged off     (20,979 )     (13,308 )     (51,819 )     (30,517 )
Recoveries     7,831       6,263       22,839       17,987  
Ending balance   $ 16,791     $ 8,670     $ 16,791     $ 8,670  

 

    Three Months Ended September 30,     Nine Months Ended September 30,  
    2021     2020     2021     2020  
Beginning balance   $ 14,223     $ 5,259     $ 9,127     $ 6,613  
Provision for loss on receivables     12,542       6,622       30,877       9,242  
Finance receivables charged off     (17,851 )     (8,346 )     (44,996 )     (22,836 )
Recoveries     7,261       5,135       21,167       15,651  
Ending balance   $ 16,175     $ 8,670     $ 16,175     $ 8,670  

 

    Three Months Ended September 30,     Nine Months Ended September 30,  
    2021     2020     2021     2020  
Beginning balance     $ 197     $
-
     $
-
     $
-
  
Provision for loss on receivables     1,025       3,355       2,204       4,713  
Membership receivables charged off     (1,089 )     (4,320 )     (2,576 )     (6,791 )
Recoveries     137       965       642       2,078  
Ending balance   $ 270     $
-
     $ 270     $
-
  

 

    Three Months Ended September 30,     Nine Months Ended
September 30,		  
    2021     2020     2021     2020  
Beginning balance   $ 281     $
-
     $
-
     $
-
  
Provision for loss on receivables     1,671       479       3,563       632  
Fees receivable charged off     (2,039 )     (642 )     (4,247 )     (890 )
Recoveries     433       163       1,030       258  
Ending balance   $ 346     $
-
     $ 346     $
-
  

 
Schedule of assessment of the credit quality of finance receivables
    September 30, 2021  
    Amount     Percent  
Current   $ 102,091       88.0 %
Delinquency:                
31 to 60 days     9,522       8.2 %
61 to 90 days     4,415       3.8 %
Total delinquency     13,937       12.0 %
Finance receivables before allowance for loan losses   $ 116,028       100.0 %

 

    December 31, 2020  
    Amount     Percent  
Current   $ 54,247       86.4 %
Delinquency:                
31 to 60 days     6,148       9.8 %
61 to 90 days     2,363       3.8 %
Total delinquency     8,511       13.6 %
Finance receivables before allowance for loan losses   $ 62,758       100.0 %

 

    September 30, 2021  
    Amount     Percent  
Current   $ 59,573       85.6 %
Delinquency:                
31 to 60 days     5,583       8.0 %
61 to 90 days     4,415       6.4 %
Total delinquency     9,998       14.4 %
Loan receivables before allowance for loan losses   $ 69,571       100.0 %

 

    December 31, 2020  
    Amount     Percent  
Current   $ 38,133       86.9 %
Delinquency:                
31 to 60 days     3,374       7.7 %
61 to 90 days     2,363       5.4 %
Total delinquency     5,737       13.1 %
Loan receivables before allowance for loan losses   $ 43,870       100.0 %

 

    September 30, 2021  
    Amount     Percent  
Current   $ 42,518       91.5 %
Delinquency:                
31 to 60 days     3,939       8.5 %
61 to 90 days    
-
       0.0 %
Total delinquency     3,939       8.5 %
Instacash receivables before allowance for loan losses   $ 46,457       100.0 %

 

    December 31, 2020  
    Amount     Percent  
Current   $ 16,114       85.3 %
Delinquency:                
31 to 60 days     2,774       14.7 %
61 to 90 days     -       0.0 %
Total delinquency     2,774       14.7 %
Instacash receivables before allowance for loan losses   $ 18,888       100.0 %

 

    September 30, 2021  
    Amount     Percent  
Current   $ 2,398       73.0 %
                 
Delinquency:                
31 to 60 days     461       14.0 %
61 to 90 days     424       13.0 %
Total delinquency     885       27.0 %
Membership receivables before allowance for loan losses   $ 3,283       100.0 %

 

    December 31, 2020  
    Amount     Percent  
Current   $ 1586       84.1 %
Delinquency:                
31 to 60 days     168       9.0 %
61 to 90 days     131       6.9 %
Total delinquency     299       15.9 %
Membership receivables before allowance for loan losses   $ 1,885       100.0 %

 

             
    September 30, 2021  
    Amount     Percent  
Current   $ 7,025       95.7 %
Delinquency:                
31 to 60 days     285       3.9 %
61 to 90 days     28       0.4 %
Total delinquency     313       4.3 %
Fees receivable before allowance for loan losses   $ 7,338       100.0 %

 

    December 31, 2020  
    Amount     Percent  
Current   $ 2,435       83.6 %
Delinquency:                
31 to 60 days     478       16.4 %
61 to 90 days     -       0.0 %
Total delinquency     478       16.4 %
Fees receivables before allowance for loan losses   $ 2,913       100.0 %