9.    Related Party Transactions

In the ordinary course of business, the Company may originate, fund, manage and service loans to shareholders (members in the case of loans funded prior to the Company’s initial public offering in February 2017). The underwriting process on these loans is consistent with 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 March 31, 2020, and 2019, loans to known shareholders totaled $5,922,692 and $4,327,297, respectively, and interest income earned on these loans totaled $180,107 and $121,535, respectively.

At March 31, 2020, total amount owed by JJV to the Company was $11,397 and is reflected as other receivables on the Company’s balance sheet.

For each of the three-month periods ended March 31, 2020 and 2019, the wife of the Company’s chief executive officer was paid $25,000 for accounting and financial reporting services provided to the Company.