Company: CMCT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0000908311-25-000096
Chunk: 174

Company: Creative Media & Community Trust Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 174
---
 The site is being evaluated for different creative office or other commercial space development options and was in pre-development phase as the Company has not finalized the formal development plan for the property. The Company owns 28.8% of the 1015 N Mansfield JV.

The Company recorded a loss of $697,000 and $2.3 million related to its investment in the Unconsolidated Joint Ventures during the three and nine months ended September 30, 2025, respectively, and a loss of $1.2 million and $442,000 during the three and nine months ended September 30, 2024, respectively. 

5. LOANS RECEIVABLE Loans receivable consist of the following (in thousands): September 30, 2025December 31, 2024SBA 7(a) loans receivable, subject to credit risk$22,170 $19,306 SBA 7(a) loans receivable, subject to loan-backed notes28,846 34,930 SBA 7(a) loans receivable, subject to secured borrowings1,343 1,383 SBA 7(a) loans receivable, held for sale770 1,494 Loans receivable53,129 57,113 Deferred capitalized costs, net1,005 1,129 Current expected credit losses(2,617)(2,032)Loans receivable, net$51,517 $56,210 SBA 7(a) Loans Receivable, Subject to Credit Risk—Represents the unguaranteed portions of loans originated under the SBA 7(a) Program which were retained by the Company.SBA 7(a) Loans Receivable, Subject to Loan-Backed Notes—Represents the unguaranteed portions of loans originated under the SBA 7(a) Program which were transferred to a trust and are held as collateral in connection with a securitization transaction. The proceeds received from the transfer were reflected as loan-backed notes payable (Note 7). These loans are subject to credit risk.SBA 7(a) Loans Receivable, Subject to Secured Borrowings—Represents the government guaranteed portions of loans originated under the SBA 7(a) Program which were sold with the proceeds received from the sale reflected as secured borrowings—government guaranteed loans. There is no credit risk associated with these loans since the SBA guarantees payment of the principal.SBA 7(a)