Annual report pursuant to Section 13 and 15(d)

Related Party Transactions

Related Party Transactions	12 Months Ended
Dec. 31, 2022
Related Party Transactions
Related Party Transactions	13. Related Party Transactions In the ordinary course of business, the Company may originate, fund, manage and service loans to shareholders. The underwriting process on these loans adheres to prevailing Company policy. The terms of such loans, including the interest rate, income, origination fees and other closing costs are the same as those applicable to loans made to unrelated third parties in the portfolio. As of December 31, 2022, and 2021, loans to known shareholders totaled $23,545,094 and $16,629,844, respectively. Interest income earned on these loans totaled $1,896,834 and $830,925 for the years ended December 31, 2022 and 2021, respectively. During the years ended December 31, 2022 and 2021, the wife of the Company’s chief executive officer was employed by the Company as its director of finance. For 2022 and 2021, she received compensation of $63,168 and $120,000, respectively. She retired in the third quarter of 2022. In December 2021, the Company hired the daughter of the Company’s chief executive officer to perform certain internal audit and compliance services. For 2022 and 2021, she received compensation of $141,652 and $10,962, respectively.

Related Party Transactions

12 Months Ended

Dec. 31, 2022

13. Related Party Transactions

In the ordinary course of business, the Company may originate, fund, manage and service loans to shareholders. The underwriting process on these loans adheres to prevailing Company policy. The terms of such loans, including the interest rate, income, origination fees and other closing costs are the same as those applicable to loans made to unrelated third parties in the portfolio. As of December 31, 2022, and 2021, loans to known shareholders totaled $23,545,094 and $16,629,844, respectively. Interest income earned on these loans totaled $1,896,834 and $830,925 for the years ended December 31, 2022 and 2021, respectively.

During the years ended December 31, 2022 and 2021, the wife of the Company’s chief executive officer was employed by the Company as its director of finance. For 2022 and 2021, she received compensation of $63,168 and $120,000, respectively. She retired in the third quarter of 2022.

In December 2021, the Company hired the daughter of the Company’s chief executive officer to perform certain internal audit and compliance services. For 2022 and 2021, she received compensation of $141,652 and $10,962, respectively.