Annual report pursuant to Section 13 and 15(d)

Related Party Transactions

Related Party Transactions	12 Months Ended
Dec. 31, 2020
Related Party Transactions
Related Party Transactions	12. 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, 2020, and 2019, loans to known shareholders totaled $9,356,336 and $6,159,002, respectively. Interest income earned on these loans totaled $649,159 and $528,712 for the years ended December 31, 2020 and 2019, respectively. During the years ended December 31, 2020 and 2019, the wife of the Company’s chief executive officer was paid $108,000 and $100,000, respectively, for accounting and financial reporting services provided to the Company.

Related Party Transactions

12 Months Ended

Dec. 31, 2020

12. 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, 2020, and 2019, loans to known shareholders totaled $9,356,336 and $6,159,002, respectively. Interest income earned on these loans totaled $649,159 and $528,712 for the years ended December 31, 2020 and 2019, respectively.

During the years ended December 31, 2020 and 2019, the wife of the Company’s chief executive officer was paid $108,000 and $100,000, respectively, for accounting and financial reporting services provided to the Company.