Company: CMCT
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000908311-25-000038
Chunk: 156

Company: Creative Media & Community Trust Corp
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 156
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 bear interest at a per annum rate equal to the lesser of (i) 30-day average compounded SOFR plus 2.90% and (ii) prime rate minus 0.35%. As of March 31, 2025, the variable interest rate was 7.15%. The Company reflects the SBA 7(a) loans receivable as assets on its consolidated balance sheet and the SBA 7(a) loan-backed notes as debt on its consolidated balance sheet. The restricted cash on the Company’s consolidated balance sheets included funds related to the Company’s SBA 7(a) loan-backed notes was $3.3 million as of March 31, 2025.Other—Deferred debt issuance costs, which represent legal and third-party fees incurred in connection with the Company’s borrowing activities, are capitalized and amortized to interest expense on a straight-line or effective interest method over the life of the related loan. Deferred debt issuance costs are presented net of accumulated amortization and are a reduction to total debt. As of March 31, 2025 and December 31, 2024, accrued interest and unused commitment fees payable of $2.4 million and $1.1 million, respectively, were included in accounts payable and accrued expenses.

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Table of ContentsCREATIVE MEDIA & COMMUNITY TRUST CORPORATION AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTSMarch 31, 2025 (Unaudited) – (Continued)

Future principal payments on the Company’s debt (face value) as of March 31, 2025 are as follows (in thousands):Years Ending December 31,Mortgage Payable (1)Secured Borrowings Principal (2)2022 Credit Facility (3)Other (2) (4)Total2025 (Nine months ending December 31, 2025)$154,000 $70 $15,000 $5,855 $174,925 202697,100 100 — 8,504 105,704 202793,359 107 — 7,235 100,701 2028— 114 — 3,669 3,783 2029— 121 — — 121 Thereafter105,000 837 — 27,070 132,907 $449,459 $1,349 $15,000 $52,333 $518,141